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Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $220,000...

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Accounting

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Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $220,000 156,000 49,000 39,000 a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio 5.0 times b. Calculate the average days in inventory (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) -0 Average days in inventory days c. Calculate the gross profit ratio (Round your answer to 2 decimal place.) Goos proftratio

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