If a company has a beginning inventory of $30,000 and an ending inventory of $55,000, compute its average inventory. If the COGS is $140,000, compute its inventory turnover and determine how many days the average item is in stock.

Average Inventory = Blank 1. (Two decimal places. Do not use a dollar sign, comma).

Inventory Turnover = Blank 2 turns per year (Two decimal places).

Days average item is in stock = Blank 3 days.(Two decimal places).