Suppose that a firm has an ending inventory of $52,000 as of its fiscal year-end December 31, 2020. The accounting information for 2021 has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Open spreadsheet

Questions

1. What is the monthly inventory turnover ratio for each of the twelve months for 2021? Round your answers to two decimal places.

Month	Monthly Inventory Turnover Ratio
January	fill in the blank 2
February	fill in the blank 3
March	fill in the blank 4
April	fill in the blank 5
May	fill in the blank 6
June	fill in the blank 7
July	fill in the blank 8
August	fill in the blank 9
September	fill in the blank 10
October	fill in the blank 11
November	fill in the blank 12
December	fill in the blank 13

2. What is the total cost of goods sold for the year? Round your answer to the nearest dollar.

$fill in the blank 14

3. What is the mean of the 12 monthly inventory averages? Round your answer to the nearest cent.

$fill in the blank 15

4. What is the annual inventory turnover ratio? Do not round intermediate calculations. Round your answer to two decimal places.

fill in the blank 16

5. What is the annual inventory turnover ratio if the monthly ending inventory data are unavailable? Do not round intermediate calculations. Round your answer to two decimal places.

fill in the blank 17