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At February 28, 2015, Inventory was $2,086,874 thousand. CarMax reports cost of sales of $13,691,824 thousand for the year ended February 28, 2017 and $13,130,915

At February 28, 2015, Inventory was $2,086,874 thousand. CarMax reports cost of sales of $13,691,824 thousand for the year ended February 28, 2017 and $13,130,915 thousand for the year ended February 29, 2016. Compute the inventory turnover for both years. Interpret the ratio.image text in transcribed

The asset side of the 2017 balance sheet for CarMax Inc. is below. Consolidated Balance Sheets - Feb. 28, 2017 Feb. 29, 2016 USD $ in Thousands (excerpts) CURRENT ASSETS: Cash and cash equivalents 38,416 $ 37,394 Restricted cash from collections on auto loan receivables 380,353 343,829 Accounts receivable, net 152,388 132,171 Inventory 2,260,563 1,932,029 Other current assets 41,910 26,358 TOTAL CURRENT ASSETS 2,873,630 2,471,781 Auto loan receivables, net 10,596,076 9,536,892 Property and equipment, net 2,518,393 2,161,698 Deferred income taxes 150,962 161,862 Other assets 140,295 127,678 TOTAL ASSETS $16,279,356 $14,459,911

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