The table below contains selected financial information included in the 2016 financial statements of Kohls Corporation and Dillards, Inc., two companies in the department store industry.

($ in millions) Kohls Corp. Dillards, Inc.
	2016 2015		2016 2015
Balance Sheet: Inventories	$4,038	$3,814	$1,375	$1,374
Income statement-2016: Net sales Cost of goods sold	$19,204		$6,755
	12,265		4,351

Required:

Calculate the 2016 gross profit ratio, inventory turnover ratio, and average days in inventory for both companies. Evaluate the management of each companys investment in inventory.

Note: You can obtain copies of annual reports from your library, from friends who are shareholders, from the investor relations department of the corporations, from a friendly stockbroker, or from EDGAR (Electronic Data Gathering, Analysis, and Retrieval) on the Internet (www.sec.gov).