The table below contains selected financial information included in the 2017 financial statements of Kohl’s Corporation and Dillards, Inc., two companies in the department store industry.

	($ in millions)
	Kohl’s Corp.							Dillards, Inc.
	2017			2016				2017			2016
Balance sheet:
Inventories	$	3,542		$	3,795			$	1,464		$	1,406
Income statement—2017:
Net sales	$	19,095						$	6,261
Cost of goods sold		12,176							4,200

Required:
1. Calculate the 2017 gross profit ratio, inventory turnover ratio, and average days in inventory for both companies. (Round your answers to 2 decimal places.)

	KOHL'S	DILLARDS
Gross Profit Ratio	_____%	_____%
Inventory Turnover	____ times	_____ times
Average Days in Inventory	____ days	_____ days

Answer rating: 100% (QA)

KOHLS DILLARDS 3623 3292 520 times 436 times 7019 days 0372 days Gross profit Net sales x ... View the full answer