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'sNet sales$ $ $ $ Cost of goods soldYearend inventory
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
Note: Use days a year. Round "Inventory turnover ratio" to decimal places. Enter dollar amounts in millions rounded to the nearest whole number.
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