•boston • new york • philadelphia • charleston the cities above were all important cities in colonial america and in the early years of u. s. history. trade was a major part of the economies of these cities because they were all ports that could ship goods on the atlantic ocean. they were connected to each other by an extensive system of roads. they were all located in the north and could easily ship goods to canada. they were located on the ohio river and would ship goods to the west.

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.)