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Tamarisk Merchants reported the following on its income statement for the fiscal year ended December...

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Accounting

Tamarisk Merchants reported the following on its income statement for the fiscal year ended December 31, 2021 and 2020.
2021 2020
Sales $495,160 $475,490
Cost of goods sold
Beginning inventory 145,780 154,124
Net purchases 346,090 322,660
Ending inventory (138,874) (145,780)
Cost of goods sold 352,996 331,004
Gross profit 142,164 144,486
Operating expenses 87,568 89,168
Profit $54,596 $55,318

Calculate the inventory turnover ratio for Tamarisk for 2021 and 2020. (Round answers to 2 decimal places, e.g. 52.75.)

Calculate the days sales in inventory for Tamarisk for 2021 and 2020. (Round answers to 0 decimal places, e.g. 5,275 and use 365 days for calculation.)

Calculate the gross profit margin for Tamarisk for 2021 and 2020. (Round answers to 1 decimal place, e.g. 52.7%.)

Calculate the profit margin for Tamarisk for 2021 and 2020. (Round answers to 1 decimal place, e.g. 52.7%.)

For each ratio calculated in (a), (b), (c) and (d) above, identify if the ratio has improved or deteriorated from 2020 to 2021.

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