Wawa Food Markets is a convenience store chain located primarily in the Northeast. The company sells gas, candy bars, drinks, and other grocery-related items. St. Jude Medical Incorporated sells medical devices related to cardiovascular needs. Suppose a local Wawa Food Market and St. Jude sales office report the following amounts in the same year (company names are disguised)

	Company 1	Company 2
Net sales	$480,000	$480,000
Cost of goods sold	252,000	402,000
Gross profit	$228,000	$ 78,000
Average inventory	$ 48,000	$ 38,000

1. For Company 1 and Company 2, calculate the inventory turnover ratio.

2. For Company 1 and Company 2, calculate the gross profit ratio.