CEO of JCPenney (a United States retailer). Because bonus is based on the company's earnings, he has directed the controller to use FIFO as the inventory costing method. He did not tell the controller his real reason for the directive; instead, he stated that he thought FIFO better reflected the actual flow of inventory costs.

• https://jcprestructuring.com/
• https://www.macysinc.com/

1. Using the links provided for JCPenney and Macys. Determine the inventory turnover ratio for the companies. What does this ratio tell you about these companies?
2. Using the links provided for JCPenney and Macys, calculate the number of days in inventory for the companies. What does this ratio tell you about these companies?