Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio, Monroe Manufacturing has a quick ratio of 2.00, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current assets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $200,000, and cost of goods sold equal to 75% of sales in the most recent annual report. Over the past year, how often did Monroe Manufacturing sell and replace its inventory? 6.21% 2.86% 6.83x 8.28X The inventory turnover ratio across companies in the manufacturing industry is 5.28. Based on this information, which of the following statements is true for Monroe Manufacturing? Monroe Manufacturing is holding less inventory per dollar of sales compared to the industry average Monroe Manufacturing is holding more inventory per dollar of sales compared to the industry average