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:
Correlation Coefficient
A statistical measure that calculates the strength and direction of the relationship between two variables or assets.
Diversification
A risk management technique that mixes a wide variety of investments within a portfolio to minimize the impact of any single asset's performance.
Negatively Correlated
Refers to two variables that move in opposite directions, meaning when one variable increases, the other decreases, and vice versa.
Positively Correlated
A relationship between two variables in which they move in the same direction, meaning as one variable increases, the other also increases.
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