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The following information is available for Novak Corp. for three recent fiscal years. 2022 2021 2020 Inventory $558,000 $588,000 $330,000 Net sales 1,910,000 1,700,000 1,335,000

The following information is available for Novak Corp. for three recent fiscal years.

2022

2021

2020

Inventory

$558,000 $588,000 $330,000 Net sales

1,910,000 1,700,000 1,335,000 Cost of goods sold

1,661,700 1,422,900 948,000

Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021

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