Calculate the gross profit ratio, inventory turnover ratio, and average days in inventory. GO 6)
Using the following information, calculate inventory turnover ratio, the average days in inventory, and the gross profit ratio for Barkley Company for the year ended December 31, 2012. (Round to two decimal places.)
| Sale | $ 125,000 |
| Cost of goods sold | 75,000 |
| Ending inventory, December 3I, 2011 | 15,275 |
| Ending inventory; December 31,2012 | 18,750 |
| Net income | 26,500 |
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