Calculating Gross Profit Margin and Inventory Turnover

The following table presents sales revenue, cost of goods sold, and inventory amounts for three specialty retailers, Tiffany & Co$.,$ Best

Buy, and $RH.$

a$.$ Compute the gross profit margin $($GPM$)$ for each of these companies for Year $2$ and Year $1.$

Note: Round GPM answers to one decimal place $($ex: $0\mathrm{.}2345=23\mathrm{.}5\%).$

b$.$ Compute the inventory turnover ratio and the average inventory days outstanding for Year $2$ 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.