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! Required information [The following information applies to the questions displayed below.] Lewis Incorporated and...

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Accounting

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! Required information [The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Lewis $ 23,000 17,000 246,000 14,000 Clark $ 49,000 59,000 225,600 59,000 3. Calculate the average days in inventory for each company. (Round your intermediate calculations to 1 decimal place.) Average Days in Inventory 365 Inventory turnover ratio Lewis days 11.9 Clark 365 Inventory turnover ratio days 2.9

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