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 $ 18,000 12,000 174,000 9,000 Clark $ 44,000 54,000 181,600 54,000 2. Calculate the inventory turnover ratio for each company. Inventory Turnover Ratio Cost of goods sold 174,000 Average inventory Lewis 0 times Clark Cost of goods sold Average inventory 0 times