You are interested in purchasing a digital camera and find one priced extremely low. As you are about to purchase the camera, you discover that it does not come with a power cord, memory card, or battery. You purchase all of these separately. The total cost surpasses what you would have paid at another store that listed the camera at a higher price, but included all the accessories. You have been a victim of the technique.

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.)