Crane Inc. has sales of $4,900,000, a gross profit margin of 24.0 percent, and inventory of $1,000,000. What are the company’s inventory turnover ratio and days’ sales in inventory? (Round inventory turnover ratio to 3 decimal places, e.g. 12.555 and days' sales in inventory to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Inventory turnover ratio    times Days’ sales in inventory    days

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A:

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A:

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A: a. Compute inventory turnover ratio.