The following information applies to the mythical City View Restaurant located in Chicago, IL

Assume there are no allowances, transfers or discounts. Solve all problems for 2 decimal places (x.xx)

September 1, 2017 Food inventory value: $5,980

September 30, 2017 Food inventory value: $7,115

Food purchases during September 2017 $14,390

Sales for September 1 30, 2017 $39,590

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September 1, 2018 Food inventory value: $6,210

September 30, 2018 Food inventory value: $4,470

Food purchases during September 2018 $14,416

Sales for September 1 30, 2018 $50,880

Answer the following questions given the above information:

9. What is the inventory turnover rate of food for September 2017? (0.5 pts)

10. What is the inventory turnover rate of food for September 2018? (0.5 pts)

11. How many days of business does the September 2017 inventory support? (0.5 pts)

12. How many days of business does the September 2018 inventory support? (0.5 pts)

13. What (if anything) can be observed about the differences in inventory turnover rate and inventory supply for September 2018 as compared to September 2017? (1 pt)