A company's Cost of Goods Sold (COGS) for the 1st quarter of 2016 was $2,200,000. In addition, on January 1st the company held $375,000 in inventory and on March 31st it held $505,000. I. What was the company's Average Inventory Investment for the 4th quarter of 2015? 2. How often did the company turn its inventory in the 1st quarter of 2016? 3. Assume the company expects to increase COGS in the 2nd quarter of 2016 by 15% (i.e. $2,200,000+15%). In addition, management wants to double their inventory turns in the 2nd Quarter of 2016. What would the company's ending inventory need to be on June 30, 2016