The following information is available for Gildan Activewear Inc., headquartered in Montreal, for three recent fiscal years (in U.S. $ thousands):

		2016		2015		2014
Inventory		$ 851,033		$ 779,407		$ 595,794
Net sales		2,959,238		2,359,994		2,284,303
Cost of goods sold		2,229,130		1,701,311		1,550,266

Calculate the inventory turnover, days in inventory, and gross profit margin for 2016 and 2015. (Round inventory turnover and gross profit margin ratio to 1 decimal place, e.g. 15.2. Round days in inventory to nearest day. Use 365 days for calculation.)

		Inventory Turnover		Days In Inventory		Gross Profit Margin
2016		enter the inventory turnover rounded to 1 decimal place times		enter the days in inventory rounded to nearest day days		enter percentages rounded to 1 decimal place %
2015		enter the inventory turnover rounded to 1 decimal place times		enter the days in inventory rounded to nearest day days		enter percentages rounded to 1 decimal place %

Based on the ratios calculated in part (a), did Gildans liquidity and profitability improve or deteriorate in 2016?

Liquidity is		select an option improveddeteriorated
Profitability is		select an option improveddeteriorated