The following information is available for Marin Inc. for three recent fiscal years. 2017 2016...
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The following information is available for Marin Inc. for three recent fiscal years. 2017 2016 2015 Inventory $546,328 $571,700 $326,238 Net sales 1,934,372 1,695,980 1,327,594 Cost of goods sold 1,554,675 1,312,366 964,008 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%.) 2017 2016 Inventory Turnover times times Days in Inventory days days Gross Profit Rate % %
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