"ew Policies 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 $495,060 $474,990 146,480 154,124 Sales Cost of goods sold Beginning inventory Net purchases Ending inventory Cost of goods sold 345,590 322,560 (139,374) (146.480) 352,696 330,204 Gross profit 142,364 144.786 Operating expenses 87,568 89,168 Profit $54,796 $55,618 TA 19 10 Profit $54,796 $55,618 (a) Calculate the inventory turnover ratio for Kingbird for 2021 and 2020. (Round answers to 2 decimal places, e.g. 52.75.) 2021 2020 Inventory turnover times times Save for Later Attempts: 0 of 5 used Submit Answer ) me parts of this question must be completed in order. This part will be available when you complete the part above. 111 19 10 Save for Later Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. (e) The parts of this question must be completed in order. This part will be available when you complete the part above. MacBook Air