The general merchandise retail industry has a number of segments represented by the following companies:

For a recent year, the following cost of goods sold and beginning and ending inventories are provided from corporate annual reports (in millions) for these three companies:

a. Determine the inventory turnover ratio for all three companies.
b. Determine the days’ sales in inventory for all three companies. Use 365 days.
c. Interpret these results based on each company’s merchandising concept.

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Company Name Costco Wholesale Corporation (COST) Walmart Inc. (WMT) Nordstrom, Inc. (JWN) Merchandise Concept Membership warehouse Discount general merchandise Fashion department store