Inventory Turnover and Days' Sales in Inventory The Eastern Corporation installed a new inventory management system at the beginning of 2015. Eastern reported an inventory turnover of 2.80 in 2015. Shown below are data from the company's accounting records as reported by the new system: 2015 2016 Sales Revenue $19,000,000 $20,000,000 Cost of goods sold 8,500,000 8,900,000 Beginning inventory 2,500,000 2,530,000 Ending inventory 2,530,000 2,600,000 Calculate the company's (a) inventory turnover and (b) days' sales in inventory for 2015 and 2016. Round your answers to two decimal points. HINT: Use your rounded answers for inventory turnover to calculate days' sales in inventory. Inventory turnover Days' sales in inventory 2015 2016 x