Fairbanks Company made sales of $24,600 million during 2021. Cost of goods sold for the year totaled $9,840 million. At the end of 2020, Fairbanks’s inventory stood at $1,000 million, and Fairbanks ended 2021 with inventory of $1,400 million. Compute Fairbanks’s gross profit percentage and rate of inventory turnover for 2021.