The owner of a large machine shop has just finished its financial analysis from the prior fiscal year Following is an excerpt from the final report Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand $355,000 310,000 42,500 45,000 16,500 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Inventory turnover ratio per year b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.) Weeks of supply