Fairchild Garden Supply expects $500 million of sales this year and it forecasts a 18% increase for next year. The CFO uses
this equation to forecast inventory requirements at different levels of sales: Inventories = $22.8 + 0.20 X (Sales). All dollars are in millions. What is the
forecasted inventory for the coming year? What is the projected inventory turnover ratio for the coming year?
Clearly identify your answer: The forecasted inventory for the coming year is ______. The projected inventory turnover ratio
for the coming year is ______. Round your answers to 2 decimal places. $XXXX.XX (inventory) and X.XX (turnover). Please Show your work