1. If a firm's cost of goods sold is $300,000 and its average inventory at cost is $175,000, what is the inventory turnover rate? 2. If a firm has an inventory turnover rate of 5.3 and its average inventory at cost is $32,800, what is the firm's cost of goods sold? to 5.0. What 3. If a firm currently has an inventory turnover rate of 1.0, but wants to increase that rat should they do? 4. What does a low inventory turnover number mean? 5. If a firm's current cost of goods sold is $23,000 and its inventory turnover rate is 2.4, what is the average inventory at cost