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:
Successful Monitoring
The effective observation and regulation of one's behavior, environment, or processes to ensure desired outcomes are achieved.
Self-Regulation
The process by which individuals control their thoughts, emotions, and behaviors to achieve long-term goals.
Willpower Exercises
Practices designed to strengthen one's ability to resist short-term temptations in order to meet long-term goals.
Willpower Resources
The mental energy or strength used to exert self-control or make choices aligned with personal goals and values.
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