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

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

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

2006 2005 Sales Beginning inventories Cost of goods sold Ending inventories $656,000 $774,000 44,000 430,000 42,000 42,000 328,000 40,000