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2. Determine the inventory turnover ratio and the average days to sell inventory for January 2021. (Do not round your Intermediate calculations. Round the final

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2. Determine the inventory turnover ratio and the average days to sell inventory for January 2021. (Do not round your Intermediate calculations. Round the final answers to 2 decimal places.) Inventory turnover ratio Average days to sell inventory days Kramer Corp. reported the following sale and purchase transactions related to a specific product in January 2021: Date Jan. 1 Jan. 3 Jan. 6 Jan. 8 Jan. 9 Jan. 15 Transaction Quantity Unit Cost Unit Sales Price Beginning inventory 9 units $ 95 Sale on account 7 units $179 Purchase on account 15 units 100 Sale on account 8 units 170 Sale on account 5 units 170 Sales returned due to damage, $340 (two units that were sold on January 9). The units were in very poor condition and were destroyed. Kramer Corp. uses a perpetual inventory system and the FIFO inventory costing method

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