! Required information 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 supplier at a cost that included production costs and a transportation charge. NGS would keep track of its new inventory using a perpetual inventory system. On December 31, NGS purchased 10 units at a total cost of $6.50 per unit. Nicole purchased 30 more units at $8.10 in February. In March, Nicole purchased 20 units at $10.10 per unit. In May, 60 units were purchased at $9.90 per unit. In June, NGS sold 60 units at a selling price of $12.10 per unit and 40 units at $10.10 per unit. 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 Ratio Numerator Cost of Goods Sold $ 510.00 | 1.5 Denominator Average Inventory $ 329.50