The following information is available for Pronghorn Company for 2022. Pronghorn uses the LIFO inventory method.

Beginning inventory		$ 616,000
Ending inventory		715,000
Beginning LIFO reserve		216,000
Ending LIFO reserve		310,000
Cost of goods sold		5,924,980
Sales		8,043,000

Your answer is correct. Calculate the inventory turnover and days in inventory for Pronghorn Company based on LIFO. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover 8.9 times Days in inventory 41.01 days e Textbook and Media X answer is incorrect. Calculate the inventory turnover and days in inventory after adjusting for the LIFO reserve. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover 22.5 times Days in inventory 16.2 days