(Ratio analysis) Assuming a 360-day year, calculate what the average investment in inventory would be for a firm, given the following information in each case. a. The firm has sales of $700,000, a gross profit margin of 12 percent, and an inventory turnover ratio of 9. b. The firm has a cost-of-goods-sold figure of $420,000 and an average age of inventory of 60 days. c. The firm has a cost-of-goods-sold figure of $1.05 million and an inventory turnover rate of 4. d. The firm has a sales figure of $23 million, a gross profit margin of 14 percent, and an average age of inventory of 45 days