Humphrey's Patio Fencing wants to better understand its performance. Determine the

$1)$ average inventory,

$2)$ percent of assets invested in inventory.

$3)$ inventory turnover

Using the results of your calculations, answer the following question:

$4)$ The industry average is $2\mathrm{.}0$ inventory turns per year. Is Humphrey doing better or worse than the average?

You have obtained the following information from the accounting department $($all numbers are given in $000\text{'}$s$.$ For example, a $13$ below implies $13,000$

Inventory as of January $1$: $$500$

Inventory as of December $31$: $$550$

Total Assets as of December $31$: $$2,250$

Annual cost of goods sold: $$750$

If you cannot calculate an amount, tell me what information you would need to calculate it$.$ If you do calculate an amount, show all your work.