The Home Depot, Inc., financial statements appear in Appendix A( http://lectures.mhhe.com/connect/007802577X/wil2577X_appA_A-A13.pdf ). Using figures from the income statement and balance sheet, answer the following questions:

a.	What was the companys inventory turnover for the most recent year reported? (Round your answer to 2 decimal places.)

Inventory turnover rate____times.

b.	Using your answer from part a, what was the average number of days that merchandise remained in inventory before it was sold? (Use 365 days in a year. Do not round intermediate calculations. Round your final answer to 1 decimal place. (i.e. .1234 to be entered as 12.3))

Average days in inventory____days.

c.

Is the companys operating cycle influenced significantly by its accounts receivable turnover rate?

	Yes
	No