Question 3 [10 Marks] 3.1 List four bases that could be used to compare a ratio that you have calculated from the financial statement of your business for a particular period. (4) 3.2 Two businesses operate in the same industry. One has an inventories turnover period that is longer than the industry average. The other has an inventories turnover period that is shorter than the industry average. Give three possible explanations for each businesses' inventories turnover period ratio. (6) Question 3 [10 Marks] 3.1 List four bases that could be used to compare a ratio that you have calculated from the financial statement of your business for a particular period. (4) 3.2 Two businesses operate in the same industry. One has an inventories turnover period that is longer than the industry average. The other has an inventories turnover period that is shorter than the industry average. Give three possible explanations for each businesses' inventories turnover period ratio. (6)