1-4 please!

Required information [The following information applies to the questions displayed below. Grant Enterprises and Lee Corporation report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Grant $ 20,000 14,000 202,200 11,000 Lee $ 46,000 56,000 198, 600 56,000 Required: 1. Calculate cost of goods sold for each company. Grant Lee Beginning inventory Cost of goods available for sale Cost of goods sold 2. Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio Grant = times Lee Il times 3. Calculate the average days in inventory for each company. (Round your intermediate calculations to 1 decimal place.) Average Days in Inventory Grant days Lee days 4. Which company appears to be managing its inventory more efficiently? Grant Enterprises Lee Corporation