15 Exercise 6-15 (Algo) Calculate cost of goods sold, the inventory turnover ratio, and average days in Inventory (LO6-2, 6-7) Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginnings Inventory (ending) Purchase returns Required: Clark $10,000 12,000 $44,000 54,000 174,000 181,600 1,000 $4,000 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. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate cost of goods sold for each company. Beginning inventory Cost of goods available for sale Cost of goods sold Lewis Clark Required 2 >