Suppose this information is available for PepsiCo, Inc. for 2015, 2016, and 2017.

(in millions) 2015 2016 2017 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

(a) Calculate the inventory turnover for 2015, 2016, and 2017. (Round to one decimal place.)

(b) Calculate the days in inventory for 2015, 2016, and 2017.

(c) Calculate the gross profi t rate for 2015, 2016, and 2017.

(d) Comment on any trends observed in your answers to parts (a), (b), and (c).