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Calculate the inventory turnover

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Reference no: EM131911510

Exercise

The following information is available for Zoe's Activewear Inc. for three recent fiscal years.

 

2017

2016

2015

Inventory

$553,000

$568,000

$332,000

Net sales

1,948,000

1,725,000

1,311,000

Cost of goods sold

1,552,000

1,288,000

947,000

Calculate the inventory turnover, days in inventory, and gross profit rate for 2017 and 2016.

(Round inventory turnover to 1 decimal place, e.g. 5,2, days in inventory to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal place, e.g. 5.2%.)

Reference no: EM131911510

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