On July 1, BerriesRUs agreed to supply 500 units of inventory for $1,500 on credit terms of 4/10, n/30. The cases will be shipped FOB shipping point. You paid the transportation charges of $200 immediately in cash. You paid the entire amount due to BerriesRUs on July 8.

Protein Shack supplied 180 units of inventory on July 8 for $900 on credit terms of 2/10, n/30. The goods were shipped FOB destination. You paid the amount due on July 23.

On July 9, JuiceARama shipped 200 units of inventory at a cost of $1,200 with credit terms of n/45, FOB destination. This amount remains unpaid at the end of the month.

Use the following information for your calculations and evaluation. Assume total Cost of Goods Sold was $12,400, beginning inventory balance was $0, and ending inventory balance was $1,200. Commas will automatically populate for numerical answers. Do not include dollar signs. Round ratio answers to two decimal places.

1.Calculate the Inventory Turnover Ratio. 2.Calculate the number of days of sales in inventory. The industry average for the inventory turnover ratio is 19 times. Your company is performing than the industry. 1.Calculate the Inventory Turnover Ratio. 2.Calculate the number of days of sales in inventory. The industry average for the inventory turnover ratio is 19 times. Your company is performing than the industry