3. The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands) Cost of sales Inventories, net LIFO reserve 2016 $1,517,397 585,764 4,345 2015 $1,529,527 546,745 4,094 The 2016 average days inventory outstanding is A) 136.2 days B) 133.9 days C) 121.5 days D) 49.6 days 4. The 2016 financial statements of CVS Health Corporation reported the following information (in millions): Net sales Cost of sales Inventories, net 2016 $177,526 148,669 14,760 2015 $153,290 126,762 14,001 The inventory turnover ratio for 2016 is: A) 9.22 B) 11.48 C) 9.33 D) 10.34