Problem $1(9$ pts$.)$ Gillespie$$s World of Music had $$450$ million in sales in $2023.$ Their

average inventory was $$22$ million, and their cost of goods sold was $$428$ million.

$($a$)(3$ pts$.)$ What is Gillespie$$s annual inventory turns?

$($b$)(3$ pts$.)$ If Gillespie$$s holding cost is $15\%$ per year, how much holding cost do they

incur on a trombone that cost them $$300?$ Assume that inventory turns for trombones

is $20/$year$.$

$($c$)(3$ pts$.)$ Gillespie$$s also sells accordions. For $2020,$ they sold $$200,000$ worth of

accordions while incurring cost of goods sold of $$160,000.$ If their annual inventory

turns for accordions is $28\mathrm{.}5,$ what is their average accordion inventory?