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The following information is available for Teal Mountain Inc. for three recent fiscal years. 2022 2021 2020 Inventory $550.000 $560.000 $320.000 1.900.000 1.760,000 1,310.000 Net
The following information is available for Teal Mountain Inc. for three recent fiscal years. 2022 2021 2020 Inventory $550.000 $560.000 $320.000 1.900.000 1.760,000 1,310.000 Net sales Cost of goods sold 1,054,500 880,000 930,000 (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 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.) 2022 2021 Inventory Turnover times times Days in Inventory days days Gross Profit Rate % %
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