8 Kwik-Mix Concrete Corporation had cost of goods sold for the third quarter of $1,250,000. The beginning inventory at cost was $135,000, and the ending inventory at cost amounted 10 to $190,900. The inventory turnover rate published as the industry standard for a business of this size is 9.5 times. a. Calculate the average inventory and actual inventory turnover rate for the company. b. If the turnover rate is less than 9.5 times, calculate the target average inventory needed to theoretically come up to industry standards. Cost of Good Sold/Inventory Turnover=