Question
Computing and Evaluating Inventory Turnover for Two Companies Abercrombie & Fitch Co. (ANF) and TJX Companies (TJX) report the following information in their respective January
Computing and Evaluating Inventory Turnover for Two Companies Abercrombie & Fitch Co. (ANF) and TJX Companies (TJX) report the following information in their respective January 2016 10-K reports relating to their 2015 and 2014 fiscal years.
| Abercrombie & Fitch | TJX Companies | ||||||
|---|---|---|---|---|---|---|---|
| $ millions | Sales | Cost of Goods Sold | Inventories | Sales | Cost of Goods Sold | Inventories | |
| 2015 | $3,519 | $1,361 | $437 | $30,945 | $22,035 | $3,695 | |
| 2014 | 3,744 | 1,430 | 461 | 29,078 | 20,777 | 3,218 | |
Compute the 2015 inventory turnover for each of these two retailers. Round answers to two decimal places.
| Inventory turnover rate | |
|---|---|
| ANF | Answer |
| TJX | Answer |
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Accounting What The World's Best Forensic Accountants And Auditors Know About Forensic Accounting And Auditing That You Dont
Authors: Greg Shields
1st Edition
1647483255, 978-1647483258
