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Inventory Ratio Calculations Tesla reported the following data for 2018 and 2019, in millions: Inventory December 31, 2017 $ 2,067 December 31, 2018 2,264 December

Inventory Ratio Calculations Tesla reported the following data for 2018 and 2019, in millions: Inventory December 31, 2017 $ 2,067 December 31, 2018 2,264 December 31, 2019 Cost of automotive sales 2018 $ 6,725 2019 $ 13,686 Gross margin 2018 $ 1,810 2019 3,946 3,113 Note: Enter answers for both ratios as numbers, rounded two decimal places (example: 0.75). (a) Calculate the inventory turnover ratio for 2018 and 2019. 2018 times 2019 times (b) Calculate the gross margin return on inventory investment for 2018 and 2019. 2018 2019

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