The following data were extracted from the income statement of Keever Inc

The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $890,600 $932,900 Beginning inventories 63,756 44,238 Cost of goods sold 445,300 518,300 Ending inventories 57,756 63,756 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 7.3 9.6 ? 2. Number of days' sales in inventory 50 X days 38 days while the number of b. The inventory position of the business has deteriorated. The inventory turnover has decreased days' sales in inventory has increased