Brief Exercise $6-17($Algo$)$ Calculate inventory ratios $($LO$6-7)$

Use the following information:

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Net sales$$235,000$Cost of goods sold$168,000$Beginning inventory$52,000$Ending inventory$42,000$

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a$.$ Calculate the inventory turnover ratio.

b$.$ Calculate the average days in inventory.

c$.$ Calculate the gross profit ratio.

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