The cost of goods sold computations for Silver Company and Gold Company are shown below.

Silver Company

Gold Company

Beginning inventory

47,000

71,000

Cost of goods purchased

200,000

290,000

Cost of goods available for sale

247,000

361,000

Ending inventory

55,000

69,000

Cost of goods sold

192,000

292,000

Instructions:

(a) Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 1.25.)

(b) Compute days in inventory for each company. (Round inventory turnover values to 2 decimal places, e.g. 1.25 and final answers to 0 decimal places, e.g. 125.)