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The table below contains selected information from recent financial statements of The Home Depot, Incorporated, and Lowe's Companies, Incorporated, two companies in the home improvement
The table below contains selected information from recent financial statements of The Home Depot, Incorporated, and Lowe's Companies, Incorporated, two companies in the home improvement retall industry (\$ in millions): Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2020. Note: Use 365 days a year. Enter dollar amounts in millions rounded to the nearest whole number. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Gross Profit Ratio } \\ \hline & Choose Numerator: & + & Choose Denominator: & = & Gross Profit Ratio & \\ \hline & & + & & = & Gross profit ratio & \\ \hline Home Depot & & + & & = & & 0% \\ \hline Lowe's & & + & & = & & % \\ \hline \multicolumn{7}{|c|}{ Inventory Turnover Ratio } \\ \hline & Choose Numerator: & & Choose Denominator: & = & Inventory Turnover Ratio & \\ \hline & & + & & = & Inventory turnover ratio & \\ \hline Home Depot & & + & & = & 0 & times \\ \hline Lowe's & & & & = & & times \\ \hline \multicolumn{7}{|c|}{ Average Days in Inventory } \\ \hline & Choose Numerator: & & Choose Denominator: & = & Average Days in Inventory & \\ \hline & & + & & = & Average days in inventory & \\ \hline Home Depot & & & & = & & days \\ \hline Lowe's & & & & = & 0 & days \\ \hline \end{tabular}
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