Calculate the inventory turnover ratio and days' sales in inventory for ABC Company. b) Calculate the inventory turnover ratio and days' sales in inventory for XYZ Company. c) Compare the results between the two companies. What conclusion can we draw about the performance of these two companies comparatively? d) Assume the two companies are in the same industry and competing for a contract for financing from private investors. Management at ABC Company was aware of an error in calculating the value of cost of goods sold that, if corrected, would have resulted in an inventory turnover of 4.8 instead of 10.4. Management was aware of the error. If unreported/not corrected, the investors may conclude that ABC does a better job of moving inventory than XYZ; however, if corrected, the investor may change their opinion and favour XYZ over ABC. As a manager for ABC, discuss the ethical implications related to reporting inventory. The following are relevant merchandise inventory numbers from ABC Company for the 2019 fiscal year. $ Millions Merchandise Inventory-December 31, 2018 Merchandise Inventory-December 31, 2019 Cost of Goods Sold $108.5 169.7 $1,452.5 Relevant merchandise inventory numbers from XYZ Company for the 2019 fiscal year are shown below. $ Millions Merchandise Inventory-December 31, 2018 Merchandise Inventory-December 31, 2019 Cost of Goods Sold $221.7 209.6 $1,432.0