S6-11 (similar to) QU Spritzer Company made sales of $29,750 million during 2018. Cost of goods sold for the year totaled $11,900 million. At the end of 2017, Spritzer's inventory stood at $1,600 million, and Spritzer ended 2018 with inventory of $1,800 million. Compute Spritzer's gross profit percentage and rate of inventory turnover for 2018. Begin by computing Spritzer's gross profit percentage for 2018. (Round your answer to the nearest tenth of a percent, X.X%.) Spritzer's gross profit percentage for 2018 is 60 %. Now compute Spritzer's rate of inventory turnover for 2018. (Round your answer to one decimal place.) Spritzer's rate of inventory turnover for 2018 is times