M . We value for average daily 20. Perez Corporation has the following financial data for the years 20X1 and 20X2: Average daily sales (L03-2) Sales Inventory turnover (L03-2) Cost of goods sold Inventory 20x2 20X1 $8,000,000 6,000,000 800,000 $10,000,000 9,000,000 1,000,000 a. Compute inventory turnover based on Ratio 6, Sales/Inventory, for each year b. Compute inventory turnover based on an alternative calculation that is used by many financial analysts. Cost of goods sold/Inventory, for each year. What conclusions can you draw from parta and part b? c 21