S Below is presented a table of data for cost of goods sold and ending inventory for the first sixe months of 2011 for EBCO, Inc. 88 | Short-Term Financial Manogement Cost of goods sold Ending inventory Assume that each month has 30 days. DEC JAN FEBMAR APR MAYNE 90 42 28 150 50 200 6262 125 100 40 225 Calculate the number of days of cost of goods sold held in inventory for March, April, May, and June assuming quarterly cost of goods sold is used to calculate average daily cost of goods sold. Discuss your findings in part a. What is happening with the firm's investment in inventory? Below is a purchasing schedule and a schedule showing the dollar amount of those pur- chases remaining as an inventory balance for successive months. Calculate a balance fraction matrix and discuss what it shows about the firm's management of its inventory balance. a. b. c. ENDING INVENTORY BALANCES PURCHASES FEB MAR APR MAY JNE Feb Mar 160 237 200 105 76 31 15 47 23 39 19 23 May Jne End of Month Inventory 17 624228 NA 62