Exercise 8-22 Ratio analysis; Home Depot and Lowes [LO8-7] Real World Financials The table below contains selected information from recent financial statements of The Home Depot, Inc.,and Lowe's Companies, Inc.. two companies in the home improvement retail industry ($ in millions) Love' s Net sales Cost of goods sold Year-end inventory 1/31/162/1/151/29/16 1/30/1 $79,587 $75,529 $54,192 $51,296 52,197 49,087 32,604 33,369 11,415 10,935 9,202 8,675 Industry Averages: 33 % Gross profit ratio Inventory turnover ratio Average days in inventory 3.9 tiners 94 days