Inventory Management. The following financial information is taken from the annual report of Intel Corporation: (amounts in millions) Year 2 Year 1 Net revenues $40,826 $36,209 Cost of goods sold 16,777 15,463 Ending inventories 3,126 2,621 Using the above data, calculate the company's inventory turnover, inventory-on-hand period, and gross profit percentage for Year 1 and Year 2. Round all answers to nearest one decimal place. Year 2 Year 1 0 0 Inventory turnover Inventory-on-hand period Gross profit percentage 0 0 0 % 0 % Is the company's inventory management improving? Intel uses FIFO to value its inventory. Would these ratios look better if the company used LIFO instead