1. Sparkys sells auto parts. Provided below is selected financial information from the companys 2012 annual report:
2. 

Using Sparkys financial information what is the companys inventory turnover ratio for 2012?

1. 0.69
2. 1.00
3. 3.35
4. 4.03
5. Sparkys forecasts that sales will grow by 25% in 2013 and that its cost of goods sold to sales ratio will be the same in 2013 as it was in 2012. If these assumptions prove correct and Sparkys inventory turnover ratio for 2013 is 4.5 what will be the level of inventory at the end of 2013?
6. $31,353
7. $38,320
8. $40,000
9. $42,314