Company A and Company B report the following amounts for the year. Company A Company B $20,000 $46,000 14,000 56,000 202,200 198,600 11,000 56,000 Inventory (beginning) Inventory (ending) Purchases Purchase returns Required: 1. Calculate cost of goods sold for each company. 2. Calculate the inventory turnover ratio for each company. 3. Calculate the average days in inventory for each company. 4. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below.

Company A and Company B report the following amounts for the year. Required: 1. Calculate cost of goods sold for each company. 2. Calculate the inventory turnover ratio for each company. 3. Calculate the average days in inventory for each company. 4. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below