Inventory Analysis The following data were extracted from the income statement of Shriver Inc.: Sales Beginning inventories Cost of merchandise sold Ending inventories Current Year Prior Year $1,022,000 $1,064,300 77,480 45,024 511,000 70,080 591,300 77,480 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 Current Year Prior Year days days b. The inventory position of the business has deteriorated in inventory has increased The inventory turnover has decreased , while the number of days' sales