The following information is available for Wedgie Company: 2012 2011 Accounts receivable $ 225,000 $195,000 Cost of goods sold 680,000 625,000 Inventory (ending) 85,000 75,000 Net cash provided by operating activities 130,000 85,000 Net sales 1,200,000 1,180,000 Capital expenditures 30,000 25,000 Dividends 20,000 10,000 Instructions: Compute the following for 2012: 1. Inventory turnover ratio. 2. Days in inventory