8. A small firm has an ending inventory of $52,000 as of December 31, 2016, and the following accounting information. Ending Cost of Month Inventory Goods Sold December $ 52,000 January $ 75,000 $ 225,000 February $ 56,000 $ 325,000 March $ 25,000 $ 240,000 April $ 85,000 $ 325,000 May $ 125,000 $ 460,000 June $ 95,000 $ 220,000 July $ 72,000 $ 85,000 August $ 45,000 $ 156,000 September $ 52,500 $ 220,000 October $ 120,000 $ 265,000 Fullscre February $ March $ April $ May $ June July $ August $ September $ October $ November $ December $ 56,000 $ 25,000 $ 85,000 $ 125,000 $ 95,000 $ 72,000 $ 45,000 $ 52,500 $ 120,000 $ 162,500 $ 255,000 $ 325,000 240,000 325,000 460,000 220,000 85,000 156,000 220,000 265,000 100,000 350,000 a. What is the inventory turnover ratio for September (round to zero decimal places)? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 0 b 1 N d 3 e 4 f 5 What is the annual cost of goods sold? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $2,500,000 b 2,742,000 2,971,000 d 3,000,000 e 3,190,000 What is the average inventory for the year? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $77,000 b $77,300 $78,000 d $88,675 e $88,875 What is the annual inventory turnover ratio (round to zero decimal places)? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 29 b 30 3 31 d 32 e 33 What can the purchasing department do to improve the firm's performance? HE B i A X, X