Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 126 units at $19 $2394 7 Purchases 441 units at $20 8820 22 Purchases 63 units at $22 1386 $12600 A physical count of merchandise inventory on July 30 reveals that there are 210 units on hand. Using the average cost method, the value of ending inventory is $4074. $4326. $4269. $4200.

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)