PROBLEM: Trm = Purchasing costs/RM. A toy producer's average inventory is $100,000 in raw plastic, $150,000 in partially produced toys, and $50,000 in finished toys. If the cost of purchased materials and purchasing overhead is $1,700,000 per year, raw material turnover is:
a. 1/17
b. About 1
c. 5.67
d. 17