The following data were extracted from the income statement of Sierra Instruments Inc. Current Year Last Year 3,600,000 3,900,000 310,000 290,000 2,010,000 2,400,000 360,000 310,000 Sales Beginning Inventory Cost of goods sold Ending Inventory a. Calculate for Current Year and Last Year 1) the inventory turnover ratio and 2) the number of days the inventory is held. Assume 360 days. b. What conclusion can you draw regarding the inventory management of the company