Question: This information is available for Sepia Photo Ltd. for 2015, 2016, and 2017. Instructions Calculate inventory turnover, days in inventory, and gross profit rate (from

This information is available for Sepia Photo Ltd. for 2015, 2016, and 2017.

Instructions
Calculate inventory turnover, days in inventory, and gross profit rate (from Chapter 5) for Sepia Photo for 2015, 2016, and 2017. Comment on any trends.

Beginning inventory Ending inventory Cost of goods sold Sales revenue 2015 100,000 330,000 900,000 1,200,000 2016 E 330,000 400,000 1,120,000 1,600,000 2017 400,000 480,000 ,300,000 1,900,000

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