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Larkspur Merchants reported the following on its income statement for the fiscal year ended December...

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Accounting

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Larkspur Merchants reported the following on its income statement for the fiscal year ended December 31, 2021 and 2020. 2021 $495,160 2020 $475,690 Sales Cost of goods sold Beginning inventory Net purchases Ending Inventory Cost of goods sold Gross profit Operating expenses Profit 146,380 346,590 (138,674) 354,296 140,864 87,568 $53,296 154,124 323,160 (146,380) 330,904 144,786 89,168 $55,618 Calculate the inventory turnover ratio for Larkspur for 2021 and 2020. (Round answers to 2 decimal places, e.g. 52.75.) 2021 2020 Inventory turnover times times Calculate the inventory turnover ratio for Larkspur for 2021 and 2020. (Round answers to 2 decimal places, eg. 52.75.) 2021 2020 Inventory turnover times times LINK TO TEXT Calculate the days sales in inventory for Larkspur for 2021 and 2020. (Round answers to o decimal places, e.g. 5,275 and use 365 days for calculation) 2021 2020 Days sales in inventory days days LINK TO TEXT

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