This information is available for Abdullah€™s Photo Corporation for 2018, 2019, and 2020

Instructions
Calculate inventory turnover (round to two decimal places), days in inventory (round to one decimal place), and gross profi t rate (from Chapter 5, round to nearest percentage) for Abdullah€™s Photo Corporation for 2018, 2019, and 2020. Comment on any trends.

Transcribed Image Text:

2019 2020 2018 Beginning inventory Ending inventory Cost of goods sold Sales revenue $ 100,000 $ 300,000 $ 400,000 300,000 400,000 1,152,000 480,000 1,300,000 1,900,000 900,000 1,200,000 1,600,000