7. 10.00 points Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle-, low, and fixed income families in southern, eastern, and midwestern states. For the year ended January 31 2014, the company reported average inventories of $2,481 (in milions) and an inventory turnover of 4.95. Average total fixed assets were $2,074 (million) and the fixed asset turnover ratio was 8.47. Required: 1-a. Calculate Dollar Gencral's net sales and cost of goods sold? (Enter your answers in whole dollars.) Net Sales Cost of Goods 1-b. What does this imply about the amount of gross profit made from each dollar of sales? (Do not round intermediate calculations. Round your answer to 1 decimal place.) Profit P 2. Is this an improvement from the gross prot percentage of 30.8 percent eamed during the previous year?l YeB No