The following data were extracted from the income statement of Keever Inc.:

	Current Year		Previous Year
Sales	$1,226,400		$1,274,600
Beginning inventories	71,776		88,136
Cost of goods sold	613,200		708,100
Ending inventories	64,976		71,776

a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year.

	Current Year		Previous Year
1. Inventory turnover
2. Number of days' sales in inventory		days		days

b. The inventory position of the business has . The inventory turnover has , while the number of days' sales in inventory has .