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- High Point Hosiery has 2021 sales of $10 million and COGS of $7 million. Additionally, inventory for 2021 was $1 million. If sales are

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- High Point Hosiery has 2021 sales of $10 million and COGS of $7 million. Additionally, inventory for 2021 was $1 million. If sales are expected to increase by 5% and gross margin is expected to be maintained, but the COO wants inventory turnover to improve to 7.5x, what would be the forecast for inventory for 2022? a. $750,000 b. $980,000 C. $1,000,000 d. $1,500,000

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