Check my work 15 1 Part 2 of 3 Required information [The following information applies to the questions displayed below) Toys 'R' Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. eBook Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $69,800 Inventory (Mar. 31, 2021) 4,900 Insurance expense 2,800 Sales discounts 6,000 Salaries expense 2,050 Income tax expense 35,050 $1.100 1,550 2,258 7.900 2.700 2-a. Calculate the inventory turnover ratio for the month of March Inventory Turnover Ratio Cash collected $ 34,750 Net sales $ 69,800 0.5 2-b. Would you expect this ratio to be higher or lower in December 2021? Higher O Lower