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The following information is available for Sandhill Co. for three recent fiscal years. Inventory Net sales 2022 $550,000 $568,000 $332,000 1,978,000 1,728,000 1,360,000 2021
The following information is available for Sandhill Co. for three recent fiscal years. Inventory Net sales 2022 $550,000 $568,000 $332,000 1,978,000 1,728,000 1,360,000 2021 2020 Cost of goods sold 1,285,700 1,080,000 937,000 (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 O decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2022 Inventory Turnover Days in Inventory Gross Profit Rate 2021 times days % times days %
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