The following information is available for Wallace Company for 2014. Wallace uses the LIFO inventory method. 
Instructions
(a) Calculate the inventory turnover and days in inventory for Wallace Company based on LIFO.
(b) Calculate the inventory turnover and days in inventory after adjusting for the LIFO reserve.
Definitions:
Influencers
Individuals who have the power to affect the purchasing decisions of others due to their authority, knowledge, position, or relationship with their audience.
Followers
In the context of social media, followers refer to individuals who choose to receive updates and posts from another user's profile, making it a measure of social influence or popularity.
Web Crawlers
Web crawlers are automated software programs that scan and index webpages for search engines, helping to organize and retrieve information efficiently.
Competitive Parity
A strategy where a company matches the benefits or features of its competitors to maintain or enhance its position in the market.
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