ONBACK NEXT Exercise 6-12 The following information is available for Headlands Industries for three recent fiscal years. 2017 2015 2016 $554,865 $564,150 $333,634 1,946,450 1,702,530 1,328,093 Inventory Net sales Cost of goods sold 1,525,587 1,286,44 928,762 Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to O decimal places, e.g. 125 and gross profit rate to 1 decimal place, eg. 5.290.) 2017 2016 Inventory Turnover Days in Inventory Gross Profit Rate times times days days Click if you would like to Show Work for this question: Question Attempts: 0 of 3 used