Sheridan Corporation and Grouper Inc. have similar types of inventory. At the end of the current year, Sheridan reported an average inventory amount of $9,700, calculated using the FIFO cost formula. Grouper reported an average inventory amount of $10,750, calculated using the average cost formula. Sheridan reported cost of goods sold of $194,000, while Grouper reported cost of goods sold of $161,250. Inventory prices have been falling during the current year. (a) Calculate the inventory turnover ratio for each company.

		Sheridan Corporation		Grouper Inc.
Inventory turnover		enter Inventory turnover in times times		enter Inventory turnover in times times