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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.

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  
 
%  
 
%
 

Sep 05 2020 View more View Less

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