Home / Questions / The following information is available for Sandhill Co. for three recent fiscal years.
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  1,522,434  1,280,731  939,086 
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 

% 

% 
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