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Calculate the inventory turnover, days in inventory, and gross profit rate. The following information is available for Sage Hill Inc. for three recent fiscal years.

Calculate the inventory turnover, days in inventory, and gross profit rate.

The following information is available for Sage Hill Inc. for three recent fiscal years.

2017

2016

2015

Inventory

$554,890

$563,389

$327,514

Net Sales

1,948,340

1,696,550

1,302,478

Cost of goods sold

1,540,998

1,294,828

964,760

2017

2016

Inventory Turnover

6.1 times

2.9 times

Days in Inventory

59.8 days

125.8 days

Gross Profit Rate

20%

23%

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