Question: Please answer question #9, part B SHOWING ALL WORK ACCORDINGLY. Thank you. The following information is available from the annual reports of Marigold and Sandra:

Please answer question #9, part B SHOWING ALL WORK ACCORDINGLY. Thank you.

The following information is available from the annual reports of Marigold and Sandra: (Amounts in millions) Marigold Sandra 2022 ending Inventory $6,015 $4,835 2021 ending inventory 6,195 5.078 Cost of goods sold 25.641 31.473 Sales revenue 29.343 36,648 2022 LIFO reserve 226 2021 LIFO reserve 223 1 (a) Your answer is correct. Calculate the inventory turnover and days in inventory for both companies. (Round inventory turnover to 2 decimal places, e.8. 15.25 and days in inventory to 1 decimal place, e.s. 15.2. Use 365 days for calculation.) Marigold Sandra Inventory turnover 4.2 times 6.35 times Days in inventory 86.9 days 57.5 days (b) Calculate Marigold's inventory turnover after adjusting for the LIFO reserve. Marigold uses the LIFO inventory method. (Round answer to 2 decimal places, e.g. 15.25.) Inventory turnover

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