: 12144 PM / Remainingi 45 min. CALCULATOR Practice Do It! Review 02 a, b1-b2 (Part Level Submission) Answer the following questions: (a) ZYour answer has been saved and sent for grading. See Gradebook for score details. Skysong, Inc. sells three different categories of tools (small, medium, and large). The cost and net realizable value of its inventory of tools are as follows. Net Realizable Cost Value Small $ 64,200 $ 73,400 Medium 290,300 259,600 Large 152,500 171,300 Determine the value of the company's inventory under the lower-of-cost-or-net realizable value approach. Total inventory value 476300 SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 1 used (61) Early in 2020, Riverbed Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2019 and 2020 are shown 2019 2020 (1) Early in 2020, Riverbed Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2019 and 2020 are shown below. 2019 2020 Sales revenue $3,115,500 $3,716,500 Cost of goods sold 1,211,000 1,443,500 Beginning inventory 185,000 222,500 Ending inventory 222,500 105,500 Determine the inventory turnover for 2019 and 2020. (Round answers to 1 decimal place, .g. 1.5.) 2019 2020 Inventory turnover Attempts of 1 used SAVE FOR LATER SUBMIT ANSWER (62)