Joe’s Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern Minnesota. In 2019, the company’s revenue was $4,300,000 and its cost of sales was $3,200,000. Assume 52 weeks and 365 days per year. Joe keeps only 7.59 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns?

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.