Exercise
The following information is available for Zoe's Activewear Inc. for three recent fiscal years.
|
|
2017
|
2016
|
2015
|
|
Inventory
|
$553,000
|
$568,000
|
$332,000
|
|
Net sales
|
1,948,000
|
1,725,000
|
1,311,000
|
|
Cost of goods sold
|
1,552,000
|
1,288,000
|
947,000
|
Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016.
(Round inventory turnover to 1 decimal place, e.g. 5,2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.)