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This information is available for Groneman, Inc. for 2016 and 2017 (in millions) Beginning inventory Ending inventory Cost of goods sold Sales 2017 $2,522 2,522
This information is available for Groneman, Inc. for 2016 and 2017 (in millions) Beginning inventory Ending inventory Cost of goods sold Sales 2017 $2,522 2,522 2,618 23,099 43,251 43,232 2016 $2,290 24,351 Calculate the inventory turnover, days in inventory, and gross profit rate for Groneman, Inc. for 2016 and 2017. (Round gross profit rate to 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, e.g 15.2.) 2016 2017 times Inventory turnover ratio Days in inventory Gross profit rate days days
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