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Calculate the inventory turnover and days in inventor

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Question - The following information is available for Splish Brothers Inc. for three recent years.

 

2017

2016

2015

Inventory

$559,911

$561,357

$335,406

Net sales

1,912,758

1,712,220

1,297,789

Cost of goods sold

1,577,885

1,271,302

963,298

Required - Calculate the inventory turnover, days in inventor, and gross profit rate for 2017 and 2016.

Reference no: EM131638551

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