Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Lewis $28,000 Clark $54,000 Inventory (ending) 22,000 64,000 Purchases 323,000 197,900 Purchase returns 19,000 64,000 Required: 1. Calculate cost of goods sold for each company. 2. Calculate the inventory turnover ratio for each company. 3. Calculate the average days in inventory for each company. 4. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio Accounts in Ratio Cost of goods sold Lewis Average inventory Clark Cost of goods sold Average inventory Amounts 310,000 0 times 0 times Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Inventory (beginning) Inventory (ending) Purchases Purchase returns Required: Clark $28,000 $54,000 22,000 64,000 323,000 197,900 19,000 64,000 1. Calculate cost of goods sold for each company. 2. Calculate the inventory turnover ratio for each company. 3. Calculate the average days in inventory for each company. 4. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the average days in inventory for each company. Average Days in Inventory Accounts in Ratio Lewis Clark Amounts 0 days 0 days < Required 2 Required 4 > Lewis Incorporated and Clark Enterprises report the following amounts for the year.. Lewis Clark Inventory (beginning) $28,000 $54,000 Inventory (ending) 22,000 64,000 Purchases 323,000 197,900 Purchase returns 19,000 64,000 Required: 1. Calculate cost of goods sold for each company. 2. Calculate the inventory turnover ratio for each company. 3. Calculate the average days in inventory for each company. 4. Which company appears to be managing its inventory more efficiently? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Which company appears to be managing its inventory more efficiently? Which company appears to be managing its inventory more efficiently