Analysis on Inventory The asset side of the 2016 balance sheet for Willamette Valley Vineyards is below. The company reported cost of goods sold of $7,204,884 in 2016 and $7,092,111 in 2015. The company reported sales of $19,425,412 in 2016 and $17,938,872 in 2015. Use this information to answer the requirements. WILLAMETTE VALLEY VINEYARDS, INC. Balance Sheet (excerpts) CURRENT ASSETS Cash and cash equivalents Restricted cash Accounts receivable, net Inventories Prepaid expenses & other current assets Income tax receivable Total current assets Investment in Kore Wine Company Vineyard development costs, net Property and equipment, net TOTAL ASSETS Dec. 31, 2016 Dec. 31, 2015 .$ 5,706,351 $4,010,664 0 1,476,232 1,871,450 1,684,502 11,970,656 10,632,462 399,740 0 131,173 204,513 19,948,197 18,139,546 59,186 60,000 4,666,794 3,699,947 20,196,945 16,729,162 $44,871,122 $38,628,655 Note 3 to the financial statement reports that Inventories consist of: Willamette Valley Vineyards, Inc. Inventories 12 Months Ended Winemaking and packaging materials Work-in-process (costs relating to unprocessed and/or unbottled wine products) Finished goods (bottled wine and related products) Current inventories Dec. 31, 2016 December 31, 2016 December 31, 2015 S 817,836 S 690,292 6,634,014 4,518,806 6,058,701 3,883,469 11,970,656 S 10,632,462 Required: 2. What are the three types of inventory accounts that Willamette has? b. Compute days inventory outstanding for both years and interpret any change. On December 31, 2014, total inventories, net, were $ 9,910,570. What does this ratio mean? Is this year-over-year change good news? Round each computation to one decimal place