Provide 2 paragraphs per question

CASE Linking Turns To Gross Margin A firm's gross margin is the difference between revenue and cost of goods. For example, if Whole Foods sells a box of cereal for $8 and it cost Whole Foods $5 to purchase the cereal, then the gross margin on that item is $8$5=$3. To be able to compare gross margins across products and companies, the gross margin is often expressed as a percentage of the sales price. In the case of the cereal box, it's gross margin percentage is ($8$5)/$8=37.5 percent. $ Figure 10.3 displays the gross margins (as percentages) and annual turns for the retailers in [ Table 10.2. Figure 10.3 The annual inventory turns and gross margins of several retailers 1. Do you see a pattern between gross margin percentage and inventory turns in Figure 10.3 ? 2. Why might there be a pattern between gross margin percentage and inventory turns in Figure 10.3? 3. Ace Hardware is in the lower-left corner, meaning that it has lower gross margins than others (which isn't good) and low turns (which also is not good). How can a firm in that position be profitable? 4. What might explain why Whole Foods is in the upper-right corner