Mini-Exercise Calculate activity measures The following information was available for the year 11.2 ended December 31, 2016: Net sales ......... Cost of goods sold .............. Average accounts receivable for the year ..... Accounts receivable at year-end......... Average inventory for the year ............ Inventory at year-end................ $365,000 292,000 14,600 16,000 73,000 78.400 Required: a. Calculate the inventory turnover for 2016. b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. c. Calculate the accounts receivable turnover for 2016. d. Calculate the number of days' sales in accounts receivable for 2016, using year-end accounts receivable