Inventory Ratio Calculations Anka, Inc. provided the following data for 2016 and 2017:

Inventory
December 31, 2015	$ 404,800
December 31, 2016	571,200
December 31, 2017	365,000
Cost of goods sold
2016	$ 1,284,000
2017	$ 1,448,000
Gross margin
2016	$ 680,000
2017	820,000

Round all calculations to two decimal places. (a) Calculate the inventory turnover ratio for 2016 and 2017. 2016 Answer

times 2017 Answer

times (b) Calculate the gross margin return on inventory investment for 2016 and 2017. 2016 Answer

2017 Answer