Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales of $2,225,500,000 and cost of goods sold of $1,479,957,500. Belt had the following balances: January 1 December 31 Inventories $335,000,000 $350,000,000 Required: Assume 365 days per year. 1. Calculate the average inventory. $ 342,500,000 2. Calculate the inventory turnover ratio. Round to two decimal places. 4.32 times 3. Calculate the inventory turnover in days. Round to two decimal places. 0.23 x days Feedback