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Inventory management Wilkins Manufacturing has sales of $3.8 million and a gross profit margin of 39%. Its end-of-quarter inventories are: Find the average quarterly inventory and use it to calculate the firm's inventory turnover and the average age of inventory. (Assume a 365-day year.) Assuming that the company is in an industry with an average inventory turnover of 1.7, how would you evaluate the activity of Wilkins' inventory? The average quarterly inventory $ (Round to the nearest dollar.) Inventory turnover ratio is (Round to two decimal places.) The average age of inventory is days. (Round to one decimal place.) Assuming that the company is in an industry with an average inventory turnover of 1.7, how would you evaluate the activity of Wilkins' inventory? (Select all the answers that apply.) A low inventory turnover ratio may represent low inventory levels resulting in stockouts. A high inventory turnover ratio may represent low inventory levels resulting in stockouts. A high inventory turnover ratio may represent efficient inventory management. The Wilkins Manufacturing inventory turnover ratio significantly exceeds the industry.
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