Use the following information for Cornerstone Exercises $16-14$ and $16-15$:

Last year, Nikkola Company had net sales of $$2,299,500,000$ and cost of goods sold of

$$1,755,000,000.$ Nikkola had the following balances:

Cornerstone Exercise $16-15$ Calculating the Average Inventory, the Inventory Turnover

Ratio, and the Inventory Turnover in Days

Refer to the information for Nikkola Company above.

Required:

Note: Round auswers to one decimal place.

Calculate the average inventory.

Calculate the inventory turnover ratio.

Calculate the inventory turnover in days.

CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be perform$-$

ing well or poorly?