Calculate the inventory turnover ratio for each company.

Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Inventory (beginning) $ 16,000 Inventory (ending) Purchases Purchase returns Required: 10,000 146,600 7.000 $ 42.000 52,000 165.400 52,000 1. Calculate cost of goods sold for each company. inventory CoSt of sale Cost Ot goods sold