Inventory Analysis The following account balances are taken from the records of Carroll Corp., a wholesaler of fresh fruits and vegetables: December 31 2017 2016 2015 Merchandise inventory $225,000 $145,000 $120,000 2017 2016 Cost of goods sold $6,960,000 $8,100,000 Required: (Assume 360 days in a year.) 1. Carroll's inventory turnover ratio for 2017 and 2016, respectively, are vand 2. Its number of days' sales in inventory for 2017 and 2016, respectively, are vand significantly from the prior period. The company may decide that they have problems with the vor the inventory is quality or the products are 3. The average age of its inventory has priced too