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The following information is available for Pronghorn Corp for three recent fiscal years. 2022 2021 2020 $560,000 $348,000 Inventory Net sales Cost of goods sold
The following information is available for Pronghorn Corp for three recent fiscal years. 2022 2021 2020 $560,000 $348,000 Inventory Net sales Cost of goods sold $588,000 1,800,000 1,357,200 1,960,000 1,607,200 1,355,000 948,000 (a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021. (Round inventory turnover to 1 decimal place, e.g. 5.2, days in inventory to 0 decimal places, eg. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2022 2021 Inventory Turnover times times Days in Inventory days days Gross Profit Rate % %
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