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Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $190,000 132,000 43,000 33,000 a. Calculate the inventory turnover ratio. (Round

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Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $190,000 132,000 43,000 33,000 a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio times b. Calculate the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.) Gross profit ratio %

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