[The following information applies to the questions displayed below.) Grant Enterprises and Lee Corporation report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Grant $ 31,000 25,000 371,600 22,000 Lee $ 57,000 67,000 194,800 67,000 . Calculate the average days In inventory for each company. (Round your Intermediate calculations to 1 decima lace.) Average Days in Inventory Grant days 365 Lee II days Accounts payable Average accounts receivable Average inventory Cash collected [The following information applies to the questions displayed below.) Grant Enterprises and Lee Corporation report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Grant $ 31,000 25,000 371,600 22,000 Lee $ 57,000 67,000 194,800 67,000 3. Calculate the average days in inventory for each company. (Round your Intermediate calculations to 1 decimal place.) Average Days in Inventory Grant II days Lee 11 days Cash collected Cost of goods sold Gross profit Inventory turnover ratio Net sales