A recent annual report of the Kraft Heinz Company reveals the following information (dollar amounts are stated in millions). Cost of goods sold Inventory (beginning of year) Inventory (end of year) Average time required to collect accounts receivable $16,529 2,684 2,815 31 days a. Compute Kraft Heinz's inventory turnover for the year (round to nearest tenth). b. Compute the number of days required to sell its average inventory (round to the nearest day). c. What is the length of Kraft Heinz's operating cycle? d. What comparative information would you want to be able to evaluate Kraft Heinz's operating cycle figure? Exercise 8.13 Part A Inventory turnover rate (dollar amounts in millions)