The table below contains selected information from recent financial statements of The Home Depot, Inc., and Lowe's Companies, Inc., two companies in the home improvement retail industry ($ in millions):

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 2014. Compare your calculations for the two companies, taking into account the industry averages.

Home Depot Lowe's Net sales Cost of goods sold Year-end inventory 2/2/14 2/3/13 1/31/14 2/1/13 $78,812 $74,754 $53,417 $50,521 51,422 48,912 34,941 33,194 8,600 1,057 10,710 9,127 Industry averages: Gross profit ratio Inventory turnover ratio Average days in inventory 33% 3.7 times 99 days