Imagine that you are the supply chain manager for the Magic Widget company and you need to measure your supply chain performance. The chart shows the financial variables that you will need to perform your task. Financial Variables

Total Assets (in $ billions) 15.3
Cost of Goods Sold (in $ billions) 19.8

Inventory:
Raw Material Inventory (in $ billions) 1.10
Work-in-progress Inventory (in $ billions) 2.20
Finished Goods Inventory (in $ billions) 0.82

Required:
Compute the percentage of assets committed to inventory and inventory turnover. Round your answers to the first decimal place.

The percentage of assets committed to inventory is 26.9%.

Inventory turnover is 4.8 times.

Explanation:

Inventory as a percentage of assets = total inventory / total assets × 100

                                                            = (1.10 + 2.20 + 0.82) / 15.3 × 100

                                                            = 26.9% (rounded)

Inventory turnover = cost of sales / inventory

                               = 19.8 / (1.10 + 2.20 + 0.82)

                               = 4.8 times (rounded)

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