Question
Real World Financials The table below contains selected information from recent financial statements of Green and White, two companies in the home improvement retail industry
Real World Financials The table below contains selected information from recent financial statements of Green and White, two companies in the home improvement retail industry ($ in millions):
Green | White | |||||||||||
1/28/2018 | 1/29/2017 | 2/2/2018 | 2/3/2017 | |||||||||
Net sales | $ | 102,404 | $ | 96,095 | $ | 70,119 | $ | 66,517 | ||||
Cost of goods sold | 68,048 | 63,782 | 46,710 | 44,053 | ||||||||
Year-end inventory | 14,248 | 14,049 | 12,893 | 11,958 | ||||||||
Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2018. (Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number.)
Answer is not complete.
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Please explain. I greatly appreciate you :)
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