1. Compute the inventory turnover ratio for each year given the following: 20x1 20x2 $10,000,000 9,000,000 1,000,000 2. Calculate the average collection period if the total credit sales are Sales COGS Inventory $8,000,000 6,000,000 800,000 $4,000,000 and the acounts receivable is $350,000. Assume a 360-day year