Inventory Turnover and Days' Sales In Inventory The Southern Company installed a new inventory management system at the beginning of Year 1. Shown below are data from the company's accounting records as reported by the new system: Sales revenue Cost of goods sold Beginning inventory Ending inventory Year 1 Year 2 $8,000,000 $10,000,000 4,000,000 4,900,000 500,000 530,000 530,000 600,000 Calculate the company's (a) inventory turnover and (b) days' sales in inventory for both years, Round to two decimals. Use the rounded answers in your calculations, (a) Inventory turnover (6) Days' sales in inventory Year 1 14.47 x 25.23 x Year 2 15.01 x 24.32 x Check