Inventory Management Calculate the average investment in inventory for each of the following situations. Assume a 365-day year. The firm's annual sales were $16 million, its gross profit margin was 34%, and its average age of inventory is 49 days. Round your answer to the nearest dollar. $ The firm's annual sales were $326 million, its cost of goods sold is 82% of sales, and it turns its inventory 10 times per year. Round your answer to the nearest dollar. $ The firm's annual cost of goods sold total $120 million, and it turns its inventory about every 75 days. Round your answer to the nearest dollar. $