! Required information [The following information applies to the questions displayed below.) Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 26,000 20,000 291,600 17,000 clark $ 52,000 62,000 254,400 62,000 2. Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio nces times Lewis times Il Clark ! Required information [The following information applies to the questions displayed below.) Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 26,000 20,000 291,600 17,000 clark $ 52,000 62,000 254,400 62,000 3. Calculate the average days in inventory for each company. (Round your intermediate calculations to 1 decimal place.) Average Days in Inventory es = days Lewis days Clark ! Required information (The following information applies to the questions displayed below.) Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 26,000 20,000 291,600 17,000 clark $ 52,000 62,000 254,400 62,000 4. Which company appears to be managing its inventory more efficiently? Lewis Incorporated Clark Enterprises