Suppose this information is available for PepsiCo, Inc. for 2012, 2013, and 2014.

(in millions) 2012 2013 2014 Beginning inventory $ 1,926 $ 2,290 $ 2,522 Ending inventory 2,290 2,522 2,618 Cost of goods sold 18,038 20,351 20,099 Sales revenue 39,474 43,251 43,232 Instructions Calculate the inventory turnover, days in inventory, and gross profit rate for PepsiCo., Inc.

for 2012, 2013, and 2014. Comment on any trends.

AppendixLO1