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 $15,000 9,000 133,200 6.000 Clark $ 41,000 51.000 157,600 51,000 Required: 1. Calculate cost of goods sold for each company Lewis Clark Beginning inventory Cost of goods available for sale Cost of goods sold 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 $ 15,000 9.000 133,200 6.000 Clark $ 41,000 51.000 157.600 51.000 2 Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio Lewis times Clark times Prey 8 & 10 of 13 Next > 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 $ 15.000 9,000 133,200 6.000 Clark $ 41,000 51.000 157,600 51.000 3. Calculate the average days in inventory for each company. (Round your intermediate calculations to 1 decimal place.) Average Days in Inventory days Lewis days Clark 9 10 of 13 Next >