The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300,000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,170,000 Condensed Income Statement Revenue $2,000,000 Cost of goods sold $600,000 Other expenses $1,000,000 Net income $400,000 a. Calculate percent invested in inventory. b. Calculate inventory turnover. 4. Given Toyota has an inventory turnover of 13 in the same reporting year, interpret the inventory turnover of Walsh Manufacturing