This information is available for Groneman, Inc. for 2013 and 2014. $\begin{array}{lc}
\text {(in millions) }& \underline{\text{ {2013} }} & \underline{\text{ {2014} }}\
\text { Beginning inventory }& \$ 2,290 & \$ 2,522 \
\text { Ending inventory }& 2,522 & 2,618 \
\text {Cost of goods sold }& 24,351 & 23,099 \
\text { Sales } & 43,251 & 43,232
\end{array} $ Instructions
Calculate the inventory turnover, days in inventory, and gross profit rate for Groneman., Inc. for 2013 and 2014. Comment on any trends.

Question

This information is available for Groneman, Inc. for 2013 and 2014. $\begin{array}{lc}
\text {(in millions)    }&  \underline{\text{ {2013} }} & \underline{\text{   {2014} }}\
\text { Beginning inventory   }&  \$ 2,290 &   \$ 2,522   \
\text {  Ending inventory  }& 2,522 & 2,618 \
\text {Cost of goods sold    }& 24,351 & 23,099 \
\text { Sales   } & 43,251 & 43,232
\end{array} $ Instructions
Calculate the inventory turnover, days in inventory, and gross profit rate for Groneman., Inc. for 2013 and 2014. Comment on any trends.

Quizplus · Accepted Answer

The Answer of This information is available for Groneman, Inc. for 2013 and 2014. $\begin{array}{lc}
\text {(in millions)    }&  \underline{\text{ {2013} }} & \underline{\text{   {2014} }}\
\text { Beginning inventory   }&  \$ 2,290 &   \$ 2,522   \
\text {  Ending inventory  }& 2,522 & 2,618 \
\text {Cost of goods sold    }& 24,351 & 23,099 \
\text { Sales   } & 43,251 & 43,232
\end{array} $ Instructions
Calculate the inventory turnover, days in inventory, and gross profit rate for Groneman., Inc. for 2013 and 2014. Comment on any trends.

This Information Is Available for Groneman, Inc Instructions Calculate the Inventory Turnover, Days in Inventory, and Gross

This Information Is Available for Groneman, Inc Instructions
Calculate the Inventory Turnover, Days in Inventory, and Gross