inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales of $2,448,050,000 and cost of goods sold of $1,791,527,500. Belt had the following balances: January 1 December 31 Inventories $284,750,000 $297,500,000 Required: Assume 365 days per year. 1. Calculate the average Inventory. SI 1,100,400 X 2. Calculate the inventory turnover ratio. Round to two decimal places 7.09 X times 3. Calculate the inventory turnover in days. Round to two decimal places. 52 x days Feedback Check My Work 1. Average Inventory - (Beginning + Ending Inventory)/2