The following financial information is taken from the annual report of Intel Corporation:

Using the above data, calculate the company’s inventory turnover, inventory-on-hand period, and gross profit percentage for 2015 and 2014. Is the company’s inventory management improving? Intel uses FIFO to value its inventory. Would these ratios look better if the company used LIFO instead? Why?

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(amounts in millions) Net revenues Cost of goods sold. Ending inventories 2015 2014 $55,355 $55,870 20,676 20,261 5,167 4,273