Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days Last year, Laurel, Inc. had net sales of $9,375,000 and cost of goods sold of $4,815,000. Laurel had the following balances: Required: Note: Round answers to one decimal place. Assume 365 days per year. 1. Calculate the average inventory. $ 2. Calculate the inventory turnover ratio. times 3. Calculate the inventory turnover in days. days