Question

QS 14-15 Raw materials inventory management LO A1

3M Co. reports beginning raw materials inventory of $1,070 million and ending raw materials inventory of $1,000 million. 3M purchased $5,506 million of raw materials and used $5,576 million of raw materials during the year. Compute raw materials inventory turnover and the number of days' sales in raw materials inventory. (Use 365 days per year. Enter your answers in millions.)

Raw Materials Inventory turnover

Choose Numerator: /   Choose Denominator: =. Raw Materials Inventory turnover.

Raw materials used / Average raw materials inventory =    Raw materials inventory turnover

Days’ Sales In Inventory
Choose Numerator:	/	Choose Denominator:	x	Days	=	Days’ Sales In Inventory
Ending raw materials inventory	/	Raw materials used	x		=	Days’ sales in inventory
	/		x		=	0

Answer 1