gross margin percentage (carry to one decimal point), return on assets percentag

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gross margin percentage (carry to one decimal point),
return on assets percentage (carry to one decimal point),
inventory turnover ratio, and
average days to sell inventory.
(Later provide your calculations when responding to a discussion question.)
Costco Wholesale Corporation operated 787 stores as of September 1, 2019. The following data were taken from the company’s annual report. All dollar amounts are in millions.
Fiscal Year Ending
Fiscal Years Ending
12/31/2019
12/31/2018
Net sales
$ 152,703
$ 141,576
Cost of goods sold
132,886
123,152
Net income
3,659
3,134
Merchandise inventory
11,395
11,040
Discussion Questions
Based on Costco’s gross margin and return on sales percentages, did its performance improve in 2019? Explain
Based on Costco’s inventory turnover and average days to sell inventory, did its inventory management get better or worse in 2019? Explain.

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