The following information is available from the annual reports of Young and Olde: 
Instructions
(a) Calculate the inventory turnover and days in inventory for both companies.
(b) Calculate Young's inventory turnover after adjusting for the LIFO reserve. Young uses the LIFO inventory method.
(c) What conclusion concerning the management of inventory can be drawn from these data?
Definitions:
Franchise Offering
A business arrangement where one party (the franchisor) grants another (the franchisee) the right to operate a business under its brand.
Demographic Profile
A statistical representation of the characteristics of a population, including age, sex, income, education, and occupation.
License Agreement
A legal contract granting permission to use intellectual property or technology, subject to specific conditions.
Specifically Branded Product
A specifically branded product is a particular item that is marketed and sold under a unique brand name, distinguishing it from competitors and generic alternatives.
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