Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year $963,600 Previous Year $1,011,800 Sales Beginning inventories Cost of goods sold 67,352 481,800 60,952 71,570 562,100 67,352 Ending inventories a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory 7.5 4.1 X 48.7 X days b. The inventory position of the business has deteriorated 89 X days . The inventory turnover has decreased , while the number of days' sales in inventory has decreased .