P301 - Problem 1 - Inventory Turns A company's Cost of Goods Sold (COGS) for the 1" quarter of 2020 was $25,000,000. On January 1,2020 the company held $1,100,000 in inventory and on March 31 2020 it held $1,250,000. 1. What is the companies Average Inventory Investment for the 1" quarter of 2020? 2. How many times did the company turn its inventory in the 1" quarter of 2020? (carry 2 decimal places) Assume that quarterly COGS increased by $2,500,000 every quarter of 2020 (For example 2nd QTR COGS were 27,500,000; Qtr 3 COGS = 30,000,000, ete) In addition, the company increased inventory holdings by S150,000 every quarter (Qtr 1 Ending Inventory - S1,250,000; Qtr 2 Ending Inventory = $1,400,000 etc.) 3. What were the company's inventory turns in quarters 2, 3, & 4? (carry 2 decimal places) 4. Based on the quarterly turns what would the company's annual inventory turns be for 2020? (carry 2 decimal places) Madalas