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Lewis Incorporated and Clark Enterprises report the following amounts for the year. LewisClarkInventory (beginning)$25,000$51,000Inventory (ending)19,00061,000Purchases276,200244,600Purchase returns16,00061,000 2. Calculate the inventory turnover ratio for each company.

Lewis Incorporated and Clark Enterprises report the following amounts for the year.

LewisClarkInventory (beginning)$25,000$51,000Inventory (ending)19,00061,000Purchases276,200244,600Purchase returns16,00061,000

2.Calculate the inventory turnover ratio for each company.

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