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Crane Games reported the following information for a three-year period: 2024 2023 2022 Ending inventory $25,200 $37,800 $42,840 Sales 157,500 161,280 144,900 Cost of
Crane Games reported the following information for a three-year period: 2024 2023 2022 Ending inventory $25,200 $37,800 $42,840 Sales 157,500 161,280 144,900 Cost of goods sold 78,750 80,640 72,450 Profit 37,800 52,920 50,400 (a) Your answer is incorrect. Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2024 and 2023. (Round number of days answers to O decimal places, eg. 52 and other answers to 2 decimal places, eg. 52.75. Use 365 days for calculation.) 2024 2023 Inventory turnover 1.25 times 1 times Days sales in inventory 292 days 365 days Gross profit margin 1.40 % %
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