Calculate the company's inventory turnover for each year. Show calculations:

Comment on the company's efficiency in managing its inventory.

A Company reported the following data: Cost of goods sold Average inventory Required: Year 1 $317,500 $72,000 Year 2 $279,000 $93,000 1) Calculate the company's inventory turnover for each year. Show calculations: 2) Comment on the company's efficiency in managing its inventory.