Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales of $2,559,325,000 and cost of goods sold of $1,402,065,000. Belt had the following balances: January 1 $402,000,000 Inventories Required: Assume 365 days per year. 1. Calculate the average inventory. December 31 $315,000,000 2. Calculate the inventory turnover ratio. Round to two decimal places. times 3. Calculate the inventory turnover in days. Round to two decimal places. days