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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.) Inventory Turnover times 2026 times Days in Inventory days days Gross Profit Rate % %
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