Inventory Analysis The following data were extracted from the income statement of Shriver Inc.: Sales Beginning inventories Cost of merchandise sold Ending inventories Prior Year $1,169,500 Current Year $1,124,200 81,670 52,538 562,100 649,700 73,870 81,670 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. 1. Inventory turnover 2. Number of days' sales in inventory b. The inventory turnover has volume has Current Year Prior Year days days while the number of days' sales in inventory has The sales faster than the inventory, resulting in a inventory position