Question: The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's companies, Incorporated, two companies in the home improvement
The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's companies, Incorporated, two companies in the home improvement retail industry (\$ in millions): Required: Calculate the gross profit ratio, the inventory tumover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2020 . Note: Use 365 days a year. Round "Inventory turnover ratlo" to 2 decimal ploces. Enter dollar amounts in millions rounded to the neorett whole number
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