A Company Reported the Following Data Required:
1

Essay

A company reported the following data:
$\begin{array}{|l|r|r|r|}\hline &{\text { Year 1 }} &{\text { Year 2 }} &{\text { Year 3 }} \\\hline \text { Cost of goods sold } & \$ 347,600 & \$ 379,650 & \$ 443,900 \\\hline \text { Average inventory } & 85,000 & 91,050 & 98,350\\\hline\end{array}$ Required:
1. Calculate the company's merchandise inventory turnover for each year.
2. Comment on the company's efficiency in managing its inventory.