Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: There are 60 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar. Inventory Turnover and days' sales in inventory Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory (in millions) information: a. \& b. Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. c. The inventory turnover ratios and days' sales in inventory are for Kracker and Foodstuff. Winston Stores has a inventory turnover and a days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and Foodstuff are efficient than Winston Stores in managing inventory. d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. $ million