1 bints eBook Print References Problem 7-1 (Algo) Akers Incorporated maintains an average inventory of $1,300,000 (at cost). Last year, Akers' sales volume was $13,000,000 and cost of goods sold was $9,100,000. Akers has determined that its inventory carrying cost is 15 percent annually. a. What was the inventory turnover rate? b. How much was the inventory carrying cost for the year? Complete this question by entering your answers in the tabs below. Required A Required B What was the inventory turnover rate? Note: Round your answer to 1 decimal place. Inventory turnover rate times

Akers incorporated maintains an average inventory of $1,300,000 (at cost). Last yeat, Akers' sales velume was $13,000,000 and cost of goods sold was $9,00,000. Akers has determined that its inventory carrying cost is 15 percent annually. a. What was the inventory turnover rate? b. How much was the inventory carrying cost for the year? Complete this question by entering your answers in the tabs below. What was the inventory turnover rate? Note: Round your answer to 1 decimal place