This information is available for Santo's Photo Corporation for 2007, 2008, and 2009.

Instructions 

Calculate inventory turnover, days in inventory, and gross profit rate for Santo's Photo Corporation for 2007, 2008, 2009. Comment on any trends.

Transcribed Image Text:

Beginning inventory Ending inventory Cost of goods sold Sales 2007 2008 $ 100,000 $ 300,000 300,000 900,000 1,200,000 400,000 2009 $ 400,000 480,000 1,120,000 1,300,000 1,600,000 1,900,000