Use the following information:

Net sales	$	185,000
Cost of goods sold		128,000
Beginning inventory		42,000
Ending inventory		32,000

a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.)

b. Calculate the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.)

c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.)

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Item 17

Time Remaining 1 hour 19 minutes 7 seconds

01:19:07

Item17

Item 17

Time Remaining 1 hour 19 minutes 7 seconds

01:19:07