The 5 ratio problems use the data below. What is the Inventory Turnover ratio as of...

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The 5 ratio problems use the data below. What is the Inventory Turnover ratio as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5). Balance as Of December 31st Cash Accounts Receivable Inventory Total Current Assets Other Assets Total Assets 12/31/2020 12/31/2019 $ 200 $ 600 1,000 800 2,000 1,600 3,200 3,000 600 400 $ 3,800 3,400 Current Liabilities Other Liabilities Total Liabilities $ LA 1,600 $ 2,200 1,200 200 2,800 2,400 Stockholders' Equity 1,000 1,000 Total Liabilities and S/H Equity $ 3,800 $ 3,400 12/31/2020 Net Sales $ 4,500 Cost of Goods Sold 3,600 Gross Profit 900 Selling, General & Admin. Expenses 300 Net Income 600 The 5 ratio problems use the data below. What is the Inventory Turnover ratio as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5). Balance as Of December 31st Cash Accounts Receivable Inventory Total Current Assets Other Assets Total Assets 12/31/2020 12/31/2019 $ 200 $ 600 1,000 800 2,000 1,600 3,200 3,000 600 400 $ 3,800 3,400 Current Liabilities Other Liabilities Total Liabilities $ LA 1,600 $ 2,200 1,200 200 2,800 2,400 Stockholders' Equity 1,000 1,000 Total Liabilities and S/H Equity $ 3,800 $ 3,400 12/31/2020 Net Sales $ 4,500 Cost of Goods Sold 3,600 Gross Profit 900 Selling, General & Admin. Expenses 300 Net Income 600