Kimmel, Financial Accounting, 8e Downloadable eTextbook ORION Gradebook ice Assignment ent CALCULATOR Exercise 6-12 The following information is available for Larkspur, Inc. for three recent fiscal years. 2016 2015 2017 $542,511 $573,605 $333,946 Inventory 1,925,607 1,707,660 1,301,948 Net sales 1,565,317 1,304,421 964,990 Cost of goods sold Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. C Inventory to 0 decimal places, e.g. 1 25 and gross profit rate to 1 decimal place, e.g. 2017 2016 times times Inventory Turnover days days Days in Inventory % % Gross Profit Rate gen/shared/assignment/test/aglist.uni?id-asnmt2454633 #N100A3 ASUS