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Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 $311,000...

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Accounting

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Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 $311,000 7,400 $303,600 2020 $301,000 5,400 $295,600 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 53,000 137,000 190,000 76,000 114,000 $189,600 24,000 136,000 160,000 53,000 107,000 $188,600 ATC's Inventory turnover ratio for 2021 15: (Round your answer to two decimal places.)

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