Required:

Calculate inventory ratios using the data you have already calculated in parts $1$ and $2.$ Assume total Cost of Goods

Sold was $$12,400$; beginning inventory balance was $0$ ; and ending inventory balance was $$1,200.$ Commas will

automatically populate for numerical answers. Round ratio answers to two numerical places.

$1.$Calculate the Inventory Turnover Ratio.

$2.$Calculate the number of days of sales in inventory.

The industry average for the inventory turnover ratio is $19$ times. Your company is performing

than the industry.