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The following information is available for Sandhill Co. for three recent fiscal years. Inventory Net sales Cost of goods sold 2022 $550,000 1.978,000 1.285.700 2021
The following information is available for Sandhill Co. for three recent fiscal years. Inventory Net sales Cost of goods sold 2022 $550,000 1.978,000 1.285.700 2021 $568,000 1,728,000 1,080,000 2020 $332,000 1,360,000 937.000 (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.8. 125 and gross profit rate to 1 decimal place, 0.9.5.2%.) 2022 2021 Inventory Turnover times times Days in Inventory days days Gross Profit Rate % %
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