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The table below contains selected information from recent financial statements of The Home Depot, Inc., and Lowes Companies, Inc., two companies in the home improvement
The table below contains selected information from recent financial statements of The Home Depot, Inc., and Lowes Companies, Inc., two companies in the home improvement retail industry ($ in millions):
Home Depot | Lowe's | |||||||
1/30/11 | 1/31/10 | 1/28/11 | 1/29/10 | |||||
Net sales | $ | 67,997 | $ | 66,176 | $ | 48,815 | $ | 47,220 |
Cost of goods sold | 44,693 | 43,764 | 31,663 | 30,757 | ||||
Year-end inventory | 10,625 | 10,188 | 8,321 | 8,249 | ||||
Required: |
Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies using the most recent fiscal year data. (Use 365 days a year. Round your answers to 2 decimal places.) Need to show numerator and denomenator for each |
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