2. Compute the 2 ratios (show work to get full points):

• Inventory Turnover
• Days in Inventory

3. Comment on what your company ratios tell you about the company's Inventory management with at least 1-2 sentences on each ratio.

Consolidated Statements Of 12 Months Ended Income - USD ($) shares in Thousands, $ in Millions Aug. 29, 2021 Aug. 30, 2020 Sep. 01, 2019 REVENUE Total revenue $ 195,929 $ 166,761 $ 152,703 OPERATING EXPENSES Merchandise costs 170,684 144,939 132,886 Selling, general and administrative 18,461 16,332 14,994 Preopening expenses 76 55 86 Operating Income 6,708 5,435 4,737 OTHER INCOME (EXPENSE) Interest expense (171) (160) (150) Interest income and other, net 143 92 178 INCOME BEFORE INCOME TAXES 6,680 5,367 4,765 Income Tax Expense (Benefit) 1,601 1,308 1,061 Net income including noncontrolling 5,079 4,059 3,704 interests Net income attributable to noncontrolling (72) (57) (45) interests NET INCOME ATTRIBUTABLE TO $ 5,007 $ 4,002 $ 3,659 COSTCO NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic (in dollars per share) $ 11.30 $ 9.05 $ 8.32 Diluted (in dollars per share) $ 11.27 $ 9.02 $ 8.26 Weighted Average Number of Shares Outstanding, Diluted [Abstract] Basic (shares) 443,089 442,297 439,755 Diluted (shares) 444,346 443,901 442,923 Net sales REVENUE Total revenue $ 192,052 $ 163,220 $ 149,351 Membership fees REVENUE Total revenue $ 3,877 $ 3,541 $ 3,352 $ 11,258 917 1,803 14.215 1,312 29,505 $ 12,277 1,028 1,550 12.242 1,023 28,120 23,492 2,890 3,381 59,268 21,807 2,788 2,841 55,556 CURRENT ASSETS Cash and cash equivalents Short-term investments Receivables, net Merchandise inventories Other current assets Total current assets OTHER ASSETS Property and Equipment, net Operating lease right-of-use assets Other long-term assets TOTAL ASSETS CURRENT LIABILITIES Accounts payable Accrued salaries and benefits Accrued member rewards Deferred membership fees Current portion of long-term debt Other current liabilities Total current liabilities OTHER LIABILITIES Long-term debt, excluding current portion Long-term operating lease liabilities Other long-term liabilities Total liabilities EQUITY Preferred stock $.01 par value; 100,000,000 shares authorized; no shares issued and outstanding Common Stock $.01 par value; 100,000,000 shares authorized; 441,825,000 and 441,255,000 shares issued and outstanding Additional paid-in capital Accumulated other comprehensive loss Retained earnings Total Costco stockholders' equity Noncontrolling interests Total equity TOTAL LIABILITIES AND EQUITY 16,278 1,090 1,671 2,042 799 4,561 29,441 14,172 3,605 1,393 1,851 95 3,728 24,844 6,692 2,642 2,415 41,190 7,514 2,558 1,935 36,851 0 0 4 4 7,031 (1,137) 11,GGG 17,564 514 18,078 $ 59,268 6,698 (1,297) 12,079 18,284 421 18,705 $ 55,556