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

Current Year Prior Year

Sales $$1,503,800$ $$1,563,700$

Beginning inventories $116,63498,738$

Cost of merchandise sold $751,900868,700$

Ending inventories $105,434116,634$

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 Prior 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 turnover has

$,$ while the number of days' sales in inventory has

$.$ The sales volume has

faster than the inventory, resulting in a

inventory position.