Calculate the average days in inventory for each company

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Reference no: EM131521099

Question: Lewis Incorporated and Clark Enterprises report the following amounts for 2012.

Required: 1. Calculate cost of goods sold for each company.

2. Calculate the inventory turnover ratio for each company.

3. Calculate the average days in inventory for each company.

4. Explain which company appears to be managing its inventory more efficiently.

Reference no: EM131521099

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