1 4 Question 4: Inventory Ratios (6 marks) Make sure you scroll down to the bottom of each worksheet until you see "End of Question_". This will ensure you've answered all parts! The following information pertains to Halo's 2021 year end: Beginning Ending Cost of Sales revenue Inventory Inventory Goods Sold $260,000 $306,000 $2,413,000 $3,559,000 Year S 6 2021 2021 0 Instructions ) Calculate the following ratios for 2021. (3 marks) 10 11 12 Gross profit margin: 13 Gross profit margin percentage: 14 Average inventory 15 Inventory turnover ratio: 16 2020 950,000 35% 330,000 10.35 17 17 18 b) On the basis of inventory turnover, was the company is moving its inventory faster in 2021 or 2020? 19 Does a higher inventory turnover mean that inventory is being better managed? (2 marks) 20 21 22 On the basis of gross margin ratio, has this improved from 2020 to 2021? (1 mark) + 24