Danaher Corporation manufactures a variety of products, including electronic measurement instruments and network communications products, water quality measurement systems, and medical and dental instruments. Selected financial statement data and related performance indicators follow.

Required:

1. Compute Danaher’s year-over-year sales growth rates for 2017 and 2018.

2. Compute Danaher’s gross profit percentage for each of the three years presented.

3. Compute Danaher’s inventory turnover ratios for each of the three years presented.

4. Comment on the company’s year-to-year performance comparisons.

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Danaher Corporation ($ in millions) 2016 2017 2018 Sales Cost of goods sold Average inventory $16,882.4 $18,329.7 $19,893.0 7,547.8 1,641.3 8,875.9 1,875.5 8,137.2 1,775.1