Asset management ratios are used to measure how effectively a firm manages its assets. Consider the following case: Sonaiya Development Group, has a quick ratio of 2.00x, $28, 800 in cash, $16.000 in accounts receivable, some inventory, total current assets of $64,000, and total current liabilities of $22.400. The company reported annual sales of $400.000 in the most recent annual report. Over the past year, how often did Sonaiya Development Group, sell and replace its inventory? 0.39x 22.91x 0 35x 20.63x The inventory turnover ratio across companies in the industry is 22.91x. Based on this information, which of the following statements is true for Sonaiya Development Group? Sonaiya Development Group is holding less inventory per dollar of sales compared to the industry average. Sonaiya Development Group is holding more inventory per dollars of sales compared to the industry average