1 ! Part 1 of 4 Required Information Exercise 6-15A Calculate cost of goods sold, the Inventory turnover ratlo, and average days In Inventory (LO6-2, 6-7) [The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. 0.25 points Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 24,000 18,000 261, eee 15, eee Clark $ 50,000 60,000 235,000 60,080 eBook Hint Exercise 6-15A Part 1 Print Required: 1. Calculate cost of goods sold for each company. References Lewis Clark Beginning inventory Cost of goods available for sale Cost of goods sold Required Information Exercise 6-15A Calculate cost of goods sold, the inventory turnover ratio, and average days in inventory (L06-2, 6-7) [The following information applies to the questions displayed below.) Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 24,900 18,eee 261, eee 15,980 Clark $ 5e,eee 60, see 235, eee 60,eee Exercise 6-15A Part 2 2. Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio Lewis times Clark times 3. Using LIFO. calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 4. Using weighted average cost calculate ending inventory and cost of goods sold at March 31. (Round your Intermedlate and final answers to 2 decimal places.) Ending inventory Cost of goods sold