The following information is available for Larkspur, Inc. for three recent fiscal years.

2017 2016 2015

Inventory $542,511 $573,605 $333,946

Net sales 1,925,607 1,707,660 1,301,948

Cost of goods sold 1,565,317 1,304,421 964,990

Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016.

2017 2016

Inventory Turnover __times __ times

Days in Inventory __ days __ days

Gross Profit Rate __ % __ %