Use the following information: Net sales Cost of goods sold Beginning inventory Ending inventory $175,000 120,000 40,000 30,000 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 to 1 decimal place.) Average days In Inventory days c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.) Gross proftratio %