QUESTION 13 Formulas for Recelvable Gross Profits Sales Revenue. Select the appropriate formula from above and calculate Boston Beer's Inventory Turnover Ratio for 2005. Based on your answer, is it true or false that Boston Beer managed its inventory better than its closest competitor whose 2005 Inventory Turnover ratio was 6.0 Ratios: Net Income Avg. Shareholders Equity Current Assets Current Liabilities Net Income Sales Revenue Cost of Goods SoldAverage Inventory Sales Revenue Average Accounts ER COMPANY INCONE STATEWE NT Ia thousand R COMPANY BALANCE SHEETnthousands 2004 $280,000 205,000 0.00060,000 labitus and 290 000 1.True 2. False QUESTION 14 Factoring occurs when a business sells some of its accounts receivable to another insitution so it can recelve cash immediately instead of having to wait until the recelva bles can be collected. True o False