$[$The following information applies to the questions displayed below.$]$

The Slumber Store $($TSS$)$ is a national wholesaler of beds, mattresses, pillows, and sheets.

Key totals from TSS$$s most recent and forecasted financial statements are presented in the table below.

From the income statement Last Year This Year Next Year

Sales Revenue $ $560,000$ $ $615,000$ $ $770,000$

Cost of Goods Sold $346,500405,250556,300$

Gross Profit $213,500209,750213,700$

From the balance sheet Last Year This Year Next Year

Inventories $ $88,000$ $ $101,808$ $ $179,825$

Required:

$1.$ Use the financial statement totals to compute the company$$s actual inventory turnover ratio for this year and its forecasted inventory turnover ratio for next year. Also compute the days$-$to$-$sell for this year $($actual$)$ and next year $($forecasted$).$ Is inventory turnover expected to improve or worsen next year?

$2.$ Use the financial statement totals to compute the company$$s actual gross profit percentage for this year and its forecasted gross profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year?

Use the financial statement totals to compute the company$$s actual inventory turnover ratio for this year and its forecasted inventory turnover ratio for next year. Also compute the days$-$to$-$sell for this year $($actual$)$ and next year $($forecasted$).$ Is inventory turnover expected to improve or worsen next year? $($Round your answers to $2$ decimal places$).$

Inventory turnover this year

Inventory turnover next year

Inventory days$-$to$-$sell this year

Inventory days$-$to$-$sell next year

Is inventory turnover expected to improve or worsen next year?

Use the financial statement totals to compute the company$$s actual gross profit percentage for this year and its forecasted gross profit percentage for next year. Is the gross profit percentage expected to improve or worsen next year? $($Round your answers to $2$ decimal places$)$

Gross profit percentage this year $\%$

Gross profit percentage next year $\%$

Is the gross profit percentage expected to improve or worsen next year?