Barneys Creperie purchases special flavors to use in their crepes. Last year, Barneys had a flood in their storage room, which destroyed all their raw materials. You work for their insurance company and need to calculate the flood loss. Last year's sales for Barneys was $2,600,000. You obtained the following information for all ingredients from Barneys accounting records (all other cost of crepes are immaterial):

Ingredients	Cost
Beginning inventory	$138,500
Last month's purchases	$782,000
Ending inventory	to be calculated
Ingredients returned for refund	$9,600
Accounts Receivables	$56,000
Accounts Payable	$256,000
Cost of goods sold as a percentage of sales	33%

Calculate Barneys inventory turnover in days (days to sale ratio), and prepare Barneys cost of goods sold statement for the year.