This information is available for Telia's Photo Corporation for 2004, 2005, and 2006.

Instructions Calculate inventory turnover, days in inventory, and gross profit rate (from Chapter 5) for Telia's Photo Corporation for 2004. 2005. 2006. Comment on any trends.

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Beginning inventory Ending inventory Cost of goods sold Sales 2004 $ 100,000 300,000 850,000 1.200.000 2005 $ 300,000 2006 $ 400,000 480,000 1,200,000 400.000 1,120,000 1.600,000 1,900,000