Ms. Torna Hawkins was interested in controlling her company's inventory because she knew that excess inventories were expensive in that they tied up funds. On the other hand, insufficient inventory levels could result in lost sales. Ms. Hawkins obtained the following inventory information from her trade association, which reported average figures for companies similar to hers:

Days' Inventory

38 days

Inventory turnover

11 times

Ms. Hawkins had the following information from last year, which she considered to be a typical year for her company:

Cost of goods sold

$ 300,000

Beginning inventory

$ 58,160

Ending inventory

$ 62,880

Required: a) How does Ms. Hawkins company's inventory compare with other similar companies?

b) If required, provide suitable suggestions to Ms. Hawkins. (Any two)