View Policies Show Attempt History Current Attempt in Progress Kingbird Merchants reported the following on its income statement for the fiscal year ended December 31, 2021 and 2020. 2021 2020 Sales $495,060 $474,990 Cost of goods sold Beginning inventory 146,480 154,124 345,590 322,560 (139,374) (146,480) Net purchases Ending inventory Cost of goods sold Gross profit Operating expenses 352,696 330,204 142,364 144,786 87,568 89,168 Profit $54.796 $55,618 a) (a) Your answer is correct Calculate the inventory turnover ratio for Kingbird for 2021 and 2020. (Round answers to 2 decimal places, e.g. 52.75.) 2021 2020 2:47 times 2.20 times Inventory turnover Attempts: 1 of 5 used (b) Calculate the days sales in inventory for Kingbird for 2021 and 2020. (Round answers to 0 decimal places, e.g. 5,275 and use 365 days for calculation.) 2021 2020 Days sales in inventory days days Save for later Attempts: 0 of 5 used Submit Answer MacBook Air