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Dawson Company had the following information for the current year: $300 000 Net Sales Accounts receivable 1 Invertor Jan. 1 55.000,000 Accounts receivable. Dec. 33 5200,000 Inventory, Dec, 01 5150,000 Cost of foods solut $200.000 $3000.000 Calculate the inventory turnover ratio. O 171 086 20 15 On December 31, Barnes Company had 1,000 identical units of Item X in ending inventory. The following information is available: Unit purchase cost - $25 per unit Replacement cost on December 31 - $20 per unit Using the lower-of-cost-or-market rule, which of the following statements would be true? Barnes should decrease inventory and increase retained earnings 55,000 Bames should increase inventory and retained earnings 55.000 Bames should decrease inventory and retained earnings 55.000 Bares should not record any transaction because inventory is always recorded at cost