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Question 12 of 12 0 / 10 III This information is available for Flint Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning inventory
Question 12 of 12 0 / 10 III This information is available for Flint Inc. for 2021 and 2022. (in millions) 2021 2022 Beginning inventory $2,315 $2,522 Ending inventory 2,522 2,926 Cost of goods sold 24,789 23,233 Sales 43,270 42,968 Calculate the inventory turnover, days in inventory, and gross profit rate for Flint Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 2021 2022 Inventory turnover ratio 2.56 times times Days in inventory 142.5 days days Gross profit rate 2.3 Screenshot e Textbook and Media
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