Based on the following information: compute (a) inventory turnover; (b) average daily cost of goods sold; and (c) number of days' sales in inventory for the current year. Use a 365-day year. (d) If an inventory turnover of 12 is average for the industry, how is this company doing?

Item Prior Year Current Year
Cost of goods sold $172,900 $215,000
Inventory 18,000 12,000
If required, round your answers to two decimal places.

(a) Inventory turnover times
(b) Average daily cost of goods sold $
(c) Number of days' sales in inventory days
(d) If an inventory turnover of 12 is average for the industry, how is this company doing?