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Blossom Corporation and Ayayai Inc. have similar types of inventory. At the end of the current year, Blossom reported an average inventory amount of $8,000,

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Blossom Corporation and Ayayai Inc. have similar types of inventory. At the end of the current year, Blossom reported an average inventory amount of $8,000, calculated using the FIFO cost formula. Ayayai reported an average inventory amount of $9,000, calculated using the average cost formula. Blossom reported cost of goods sold of $160,000, while Ayayai reported cost of goods sold of $99.000. Inventory prices have been falling during the current year. (a) ho Calculate the inventory turnover ratio for each company. Blossom Corporation Ayayai Inc. Inventory turnover times times

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