QUESTION 27 Sugar, incsells 5749.300 of goods during the year that have a cost of 532.600 Inventory was $31.133 at the beginning of the year and 535,438 at the end of the year What is the inventory turnover ratio? (Round your final answer to 1 decimal place.) 12.5 times 16.2 times 17.3 times 0 6 3 times None of the above QUESTION 28 McQueen, Inc. buys premium ice cream at a cost of $1.75 a gallon and sells it for $450 a galon Selling general and administrative expenses are 50.85 per gallon. Which of the following statements is correct? The difference between the selling price and the cost is recorded in the gross profit account. The difference between the selling price and the cost is recorded in the Net Profit account Gross profit per gallon is $2.75 Gross profit per gallon is 51.90 None of the above statements are correct