Calculate the inventory turnover, days in inventory, and gross profit rate.

The following information is available for Sage Hill Inc. for three recent fiscal years.

	2017	2016	2015
Inventory	$554,890	$563,389	$327,514
Net Sales	1,948,340	1,696,550	1,302,478
Cost of goods sold	1,540,998	1,294,828	964,760

	2017	2016
Inventory Turnover	6.1 times	2.9 times
Days in Inventory	59.8 days	125.8 days
Gross Profit Rate	20%	23%

Answer rating: 100% (QA)

Inventory Turnover Ratio Cost of goods sold Average Invent... View the full answer