5 eBook Hint Print O erences Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns 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. Which company appears to be managing its inventory more efficiently? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Lewis $29,000 23,000 339,000 20,000 Beginning inventory Cost of goods available for sale Calculate cost of goods sold for each company. Cost of goods sold Required 3 Clark $55,000 65,000 177,000 65,000 Required 4 Lewis Clark Required 2 >

Lewis Incorporated and Clark Enterprises report the following amounts for the year. 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. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Calculate cost of goods sold for each company. 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. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Calculate the inventory turnover ratio for each company. Lewis Incorporated and Clark Enterprises report the following amounts for the year. 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. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Calculate the average days in inventory for each company. Lewis Incorporated and Clark Enterprises report the following amounts for the year. 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. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Which company appears to be managing its inventory more efficiently? Which company appears to bo managing its inventory more officiently