A company's Cost of Goods Sold (COGS) for the 1st quarter of 2019 was $355,000. On January 1st the company held S155,000 in inventory and on March 31st it held $100,000. (Round all answers 2 decimal places) 1. What is the companies Average Inventory Investment for the 1st quarter of 2019? 2. How many times did the company turn its inventory in the 1st quarter of 2019? Assume that quarterly COGS were projected to stay constant (i.e. S355,000 every quarter), and starting quarter 2 of 2019 the company planned to increase inventory holdings by S7,500 every quarter (e.g. Qtr 1 ending inventory = 100,000; Qtr 2 ending inventory - 107500, etc) Qtr 1 Ending Inventory = 100,000; Qtr 2 Ending Inventory = 107,500; Otr 3 Ending Inventory = 115,000; Otr 4 Ending Inventory = 122,500 3. What is the operations projected annual inventory turns (Hint: because of the large drop in inventory in the 1st quarter and the slow increase in quarters 2-4 you need to assess each quarter's turns independently)