Inventory Management Williams \& Sons last year reported sales of $9 million, cost of goods sold (COGS) of $6 million and an inventory turnover ratio of 2 . The company is now adopting a new inventory system. If the new system is able to reduce the firm's inventory level and increase the firm's inventory turnover ratio to 6 while maintaining the same level of sales and COGS, how much cash will be freed up? Do not round intermediate calculations. Round your answer to the nearest dollar. \$