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

	Current Year		Previous Year
Sales	$1,547,600		$1,616,200
Beginning inventories	100,624		100,278
Cost of goods sold	773,800		897,900
Ending inventories	91,024		100,624

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	fill in the blank 1		fill in the blank 2
2. Number of days' sales in inventory	fill in the blank 3	days	fill in the blank 4	days

b. The inventory position of the business has

improveddeteriorateddeteriorated

. The inventory turnover has

increaseddecreaseddecreased

, while the number of days' sales in inventory has increased.