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 Lewis $ 14,000 8,000 120,000 5,000 2. Calculate the inventory turnover ratio for each company. Clark Clark $ 40,000 50,000 150,000 50,000 Inventory Turnover Ratio 11 11 times times

Required information [The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. 2. Calculate the inventory turnover ratio for each company. Required information [The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. Calculate the average days in inventory for each company. (Round your intermediate calculations to 1 decimal place.)