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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): Net sales Cost of goods sold Year-end inventory Green 1/28/2018 1/29/2017 $101,404 $95,095 67,048 62,782 13,248 13,049 White 2/2/2018 2/3/2017 $69,119 $65,517 45,710 43,053 11,893 10,958 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.) Choose Numerator: = Gross Profit Ratio 7 Choose Denominator: / 1 / 1 Gross Profit Ratio Gross profit ratio Green White % % = Choose Numerator: Inventory Turnover Ratio 1 Choose Denominator: / Inventory Turnover Ratio Inventory turnover ratio Green / times White 1 times Average Days in Inventory 1 Choose Denominator: Choose Numerator: = Average Days in Inventory Average days in inventory days days 1 Green White /
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