Use the following information:

Net sales

Cost of goods sold Beginning inventory Ending inventory

$$225,000$

$160,000$

$50,000$

$40,000$

a$.$ Calculate the inventory turnover ratio.

b$.$ Calculate the average days in inventory.

c$.$ Calculate the gross profit ratio.

Complete this question by entering your answers in the tabs below.

Required a

Required b

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

Inventory turnover ratio

times

Reculised

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