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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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