the materials manager at a retail store, has determined that a particular product experienced 5 turns last year, with an annual sales volume of $15 million. What was the average inventory value for this product last year

that particular product has experienced 5 turns last year.

annual sales came up to $15 million

the average inventory value for this product on last year will be

= 15 / 5 million

= $ 3 million.

$ 3 million is the average inventory value for this product.