The following relates to the activities of Eli Lilly, a pharmaceutical company (amounts in millions):

Required
A. Compute the inventory turnover for each year.
B. Compute the average number of days that inventories were held each year.
C. Compute the cost of goods sold to sales percentage for each year.
D. How well has the company managed its inventories over the fouryears?

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Year 1 Year 2 Year 3 Year 4 $3,271 $3,720 $%3,644 $4,070 Cost of goods sold ,75 1,346 1,303 1,337 645 Sales Average inventory 662 694 655