Inventory Ratio Calculations Anka, Inc. provided the following data for 2016 and 2017: Inventory December 31, 2015 404,800 December 31, 2016 571,200 December 31,2017 365,000 Cost of goods sold 2016 $ 1,284,000 2017 $ 1,448,000 Gross margin 2016 680,000 2017 820,000 Round all calculations to two decimal places. (a) Calculate the inventory turnover ratio for 2016 and 2017. 2016 2017 times times (b) Calculate the gross margin return on inventory investment for 2016 and 2017. 2016 2017