Question 21 points Trekking Company's average merchandise inventory was 54,575 and cost of goods sold was $15.550. Inventory Turnover Ratio would be a b 3.4 0.29 10.74 Info given is not sufficient to calculate Inventory Turnover d Ratio Question 22 (1 point) Days' sales in inventory a b Is a ratio that estimates how many days it will take to convert inventory on hand to accounts receivable or cash Is a ratio that tells us how much inventory a firm has on hand in terms of days' sales Is the number of days we can sell from inventory if no new items are purchased All of the above Question 23 (1 point) Outstanding cheques are cheques the bank has paid and deducted from the customer's account during the month True False