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The following information is available for Sandhill's Activewear Inc. for three recent fiscal years. 2027 2026 2025 Inventory (12/31) $541,940 $556,640 $325,360 Net Sales 1,909,040
The following information is available for Sandhill's Activewear Inc. for three recent fiscal years.
2027 | 2026 | 2025 | |
Inventory (12/31) | $541,940 | $556,640 | $325,360 |
Net Sales | 1,909,040 | 1,690,500 | 1,284,780 |
Cost of Goods Sold | 1,520,960 | 1,262,240 | 928,060 |
(a) Calculate the inventory turnover, days in inventory, and gross profit rate for 2027 and 2026. (Round inventory turnover and gross profit rate answers to 1 decimal place, e.g. 52.7 and other answers to 0 decimal places, e.g. 125. Use 365 days for calculation.)
2027 | 2026 | |||
Inventory Turnover | ___ | times | ___ | times |
Days in Inventory | ___ | days | ___ | days |
Gross Profit Rate | ___ | % | ___ | % |
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