Question - The following data are taken from Clayburgh Corporation's records for the years ended December 31, 2011 2010, and 2009.

2011 2010 2009

Finished goods inventory $60,000 $40,000 $30,000

Goods in process inventory 60,000 65,000 60,000

Raw materials inventory 60,000 40,000 35,000

Sales 400,000 340,000 300,000

Cost of goods sold 225,000 230,000 210,000

Cost of goods manufactured 260,000 250,000 200,000

Raw materials used in production 150,000 130,000 120,000

1. Compute turnover rates for 2011 and 2010 for the following:

(a) Finished Goods

(b) Goods in process

(c) Raw Materials

2. Analyze the turnover results as to reasonableness and the message they send to a statement reader.