Fairchild garden supply expects $700 million of sales this year, and it forecasts a 15% increase for next year. the cfo uses this equation to forecast inventory requirements at different levels of sales: inventories = $30.2 + 0.25(sales). all dollars are in millions. what is the projected inventory turnover ratio for the coming year?

Forecast sales = 115% x $700 million = $805  million

Inventory = $30.2 million + .25($805 million) = $231.45 million

Inventory turnover = Forecast sales/Inventory

                               = $805 million/$231.45

                               = 3,48 times

Explanation:

Inventory turnover is the ratio of sales to inventory. Inventory is $231.45 million while forecast sales is $805 million. The division of sales by inventory gives inventory turnover.

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explanation:

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