Low's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Low's has 20,000 common shares outstanding during 2024. Read the requirements Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Low's Companies for 2024. Compute the inventory turnover. (Round your answer to two decimal places, X.XX.) - The inventory turnover times Balance sheets - Income statement Low's Companies Balance Sheet May 31, 2024 and 2023 Low's Companies Assets Liabilities 2024 Income Statement 2023 2024 2023 Cash $ 2,300 $ 1,600 Total Current Liabilities $ 13,100 Years Ended May 31, 2024 and 2023 2024 24,000 $ 12.400 2023 Short-term Investments 24,000 10.100 14,000 Long-term Liabilities Net Sales Revenue Accounts Receivable 7,400 5,700 Total Liabilities 36,400 23,200 55,400 $ 20,800 42,900 29,300 Cost of Goods Sold Merchandise Inventory Stockholders' Equity 7,000 6,000 6,300 1,700 Interest Expense 700 140 Other Current Assets Common Stock 7,500 8,400 13,000 30,300 13,000 19,100 All Other Expenses Total Current Assets 46,700 $ 26,400 $ 5,060 Net Income All Other Assets 33,000 29,300 Retained Earnings 26,000 Total Equity 55,300 Total Liabilities and Equity 43,300 32,100 $ 79,700 $ 79,700 $ 55,300 Total Assets