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 2016. Compare your calculations for the two companies, taking into account the industry averages.

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Home Depot Lowe's 1/31/16 $88,519 58,254 11,809 1/29/16 Net sales Cost of goods solod Year-end inventory $83,176 54.787 11,079 $59,074 38,504 9,458 1/30/15 $56,223 36,665 8,911 Industry averages: Gross profit ratio Inventory turnover ratio Average days in inventory 33% 3.9 times 94 days