Calculate the firm inventory turnover

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Reference no: EM131519047

Question: In the last financial year London's Enwad Hotel group achieved a revenue of £28.75 million and a gross profit margin of 40%. Its end-of-quarter inventory balances were as follows:

Required

(a) Calculate the firm's inventory turnover and the average age of inventory.

(b) Comment on Enwad's liquidity, assuming most of its competitors record an inventory turnover of 40.

Reference no: EM131519047

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