Gitman_ Lawrence). Zutter_Che X + File | C:/Users/DELL/Downloads/Gitman_%20Lawrence%20J._%20Zutter_%20Chad%20J.%20-%20Principles%20of%20Managerial%20Fina... P315 Inventory management Efficient Production Incorporation has annual sales of $5.8 million and a gross profit margin of 30%. Its end-of-quarter inventories are Quarter 1 2 Inventory $ 300,000 570,000 890,000 430,000 3 4 a. Find the average quarterly inventory, and use it to calculate the firm's inventory turnover and the average age of inventory. b. Assuming that the company is in an industry with an average inventory turnover of 4.8, how would you evaluate the activity of Efficient Production's inventory