Humphrey's Patio Fencing wants to better understand its performance. Determine he 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 2.0 Inventory tums 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 O00s. 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.