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):
Tool StationHoward's1/28/20201/29/20192/2/20202/3/2019Net sales$ 101,004$ 94,695$ 68,719$ 65,117Cost of goods sold66,64862,38245,31042,653Year-end inventory12,84812,64911,49310,558
Required:
Calculate the gross profit ratio, the inventory turnover 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 ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number.

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