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Use the following information: Net sales $ 250,000 Cost of goods sold 180,000 Beginning inventory 55,000 Ending inventory 45,000 a. Calculate the inventory turnover ratio.

Use the following information:

Net sales $ 250,000
Cost of goods sold 180,000
Beginning inventory 55,000
Ending inventory 45,000

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.

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