Required information CC7-1 Accounting for Changing Inventory Costs [LO 7-3, LO 7-5 In October, Nicole eliminated all existing inventory of cosmetic items. The trouble of ordering and tracking each product line had exceeded the profits earned. In December, a supplier asked her to sell a prepackaged spa kit. Feeling she could manage a single product line, Nicole agreed. Nicole's Getaway Spa (NGS) would make monthly purchases from the included production costs and a transportation ch using a perpetual inventory system. On December 31, NGS purchased 20 units at a total cost of $5.40 per unit. Nicole purchased 30 more units at $7.40 in February. In March, Nicole purchased 20 units at $9.40 per unit. In May, 60 units were purchased at $9 20 per unt In June, NGS sold 60 units at a selling price of $11.40 per unit and 50 units at $1160 per unit CC7-1 Part 3 3. Calculate the inventory turnover ratio, using the inventory purchased on December 31 as the beginning inventory (Round your answers to 2 decimal places.) Inventory Turnover Rat Numerator Denominator