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The following account balances are taken from the records of Lewis Inc., a wholesaler of fresh fruits and vegetables: Compute Lewis's inventory turnover ratio for
The following account balances are taken from the records of Lewis Inc., a wholesaler of fresh fruits and vegetables: Compute Lewis's inventory turnover ratio for 2014 and 2013. Compute the number of days' sales in inventory for 2014 and 2013. Assume 360 days in a year. Comment on your answers in parts (1) and (2) relative to the company's management of inventory over the two years. What problems do you sec in its inventory management
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