4. The operations manager at the lilIullowhee Paper Manufacturing has provide the financial information comparing this year to last year. Last Year This Year Sales 5 376,000 5 362,011! Cost of Goods Sold 5 241,000 5 249,000 Gross Margin 5 134,000 5 113,000 Other Expenses 5 52,000 5 52,000 Net Income 5 12,000 5 51,000 nished Goods Inventory 5 1,500 5 13,000 Work in Prooas Inventory 5 14,000 5 113,000 Raw material inventory 5 5,000 5 13,000 Total inventory [average for year} 5 30,500 5 39,000 Other current assets 5 125,000 5 113,000 Other assets 5 213,000 5 242,000 Total Assem 5 358,500 5 400,011! Based on the information in the table above, answer the following questions: I Based on total inventory, what was the inventory turnover for this year and last year? I Has the inventory turnover improved? I What was the company' 5 percentage of assets committed to inventory for this year and last year? I Was this an improvement? Explain. I How many weeks of finished goods were on the hand at the end of this year and last year? I Was this an improvement? Explain