Required information [The following information applies to the questions displayed below.) Toys"R" Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $75,300 Inventory (Mar. 31, 2021) 6,000 Insurance expense 3,900 Sales discounts 7,100 Salaries expense 2,600 Income tax expense 35,600 $1,100 2,100 2,800 9,000 3,800 I 2-a. Calculate the inventory turnover ratio for the month of March. Inventory Turnover Ratio