|Your answer is correct.|
This information is available for Paik's Photo Corporation for 2010, 2011, and 2012.
|Cost of goods sold||895,090||1,127,160||1,273,520|
Calculate inventory turnover, days in inventory, and gross profit rate (from Chapter 5) for Paik's Photo Corporation for 2010, 2011, 2012. (Round inventory turnover and days in inventory to 1 decimal place, e.g. 10.5. Use rounded amounts for future calculations. Round gross profit rate to 2 decimal places, e.g. 10.50.)
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