Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co. Zale Corporation, and Blue Nile, Inc. (an Internet retailer) (5 millions) 2013 2012 Tiffany & Co Revenues $3,831 33.614 Cost of goods sold 1,641 1591 Inventory 2.252 2.169 Zale Corporation Revenues $1,838 51.827 Cost of goods sold 854 866 Inventory 763 732 Blue Nile, Inc. Revenues 5445 360 Cost of goods sold 316 285 Inventory 30 23 a. Compute the gross profit margin (GPM) for each of these companies for 2013 and 2012 Note: Round GPM answers to one decimal place (ex 0.2345 - 23.5% Tiffany Zale Blue Nile 2013 2012 2013 2012 2013 2012 Gross profit Gross profit margin GPM) b. Compute the inventory turnover ratio and the average inventory days outstanding for 2013 for each company. Do not round until your final answer. Round inventory turnover to one decimal place. Round average inventory days outstanding to nearest whole number Blue Nile Inventory turnover Aventory days outstanding o Check Search or type URL 1 0 & 7 $ 4 % 5 9 6 8 3 0 P