Selected financial statement data from Western Colorado Stores is shown below. Selected financial statement data from Western Colorado Stores is shown below.

Required:

$1.$ Compute the gross profit ratio for $2024.$

Note: Round your "Percentage" answer to two decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34).$

$2.$ Compute the inventory turnover ratio for $2024.$

Note: Round your answer to two decimal places.