The following information is available for Sandhill Co. for three recent fiscal years. 2017 2016 2015 Inventory $562,019 $571,288 $327,592 Net sales 1,955,632 1,697,750 1,304,721 Cost of goods sold...


The following information is available for Sandhill Co. for three recent fiscal years.













































2017



2016



2015

Inventory$562,019$571,288$327,592
Net sales1,955,6321,697,7501,304,721
Cost of goods sold1,522,4341,280,731939,086



Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016.
(Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.)












































2017

2016
Inventory Turnover



times



times
Days in Inventory



days



days
Gross Profit Rate



%



%


Jun 01, 2022
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