The following data were extracted from the income statement of Hestia Systems Inc.: a. Determine for each year (1) the inventory turnover and (2) the

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

a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round to the nearest dollar and one decimal place.b. What conclusions can be drawn from these data concerning theinventories?

Current Year $2,443,600 158,000 1,221,800 140,000 Preceding Year $2,592,000 130,000 1,440,000 158,000 Sales Beginning inventories Cost of goods sold Ending inventories