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The following information is available for Sarasota Corp. for three recent fiscal years. Inventory Net sales Cost of goods sold 2017 20162015 $550,613 $573,373 $338,227
The following information is available for Sarasota Corp. for three recent fiscal years. Inventory Net sales Cost of goods sold 2017 20162015 $550,613 $573,373 $338,227 1,982,579 1,752,220 1,325,522 1,265,946 1,528,993 957,435 Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016. (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, eg. 5.2%.) 2017 2016 Inventory Turnover Days in Inventory Gross Profit Rate times times days days
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