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The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of hamburger in stock. Assume that the hamburger patties cost $1.00 a pound. What is the inventory turnover for the hamburger patties

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danishmujtabaqureshi

Answer: 11.42 times

Explanation:

Inventory Turnover = Cost of Goods Sold / Average inventory

Where,

Cost of goods sold = 4,000 quarter-pound hamburgers each week x $1.00 a pound

COGS = $4,000 per week

Average Inventory = 350 pounds of hamburger

Inventory Turnover = 4000 / 350 = 11.42 times