6) Classic Car Dealers has an average of 150 cars : 2066014
6) Classic Car Dealers has an average of 150 cars in inventory. They sold 3000 cars this past year. Assuming 365 days in a work year, how many days' worth of inventory do they carry on average?
A) 10 days
B) 15 days
C) 18 days
D) 25 days
7) If a firm has annual cost of goods sold of $100 million and turn over inventory twice a month, the average inventory they carry would be
A) $4.167 million.
B) $50 million.
C) $10 million.
D) $18.37 million.
8) Inventory turnover is
A) average inventory divided by cost of goods sold.
B) average inventory divided by annual sales.
C) cost of goods sold multiplied by annual sales.
D) cost of goods sold divided by average inventory.
9) Walmart Stores sell the popular Tide detergent brand supplied by Procter and Gamble (P&G). In this case P&G owns and also manages the inventory; however, the inventory is housed in Walmart Stores. Such an arrangement is called
A) Vendor-managed Inventory (VMI).
B) Supplier's Replenishment Inventory (SRI).
C) Kanban Management Inventory (KMI).
D) Safety Stock Inventory (SSI).
10) The rate at which firms use up their inventory is known as ________.