Question
Computing Inventory Ratios Target Corporation reported the following information in a recent Form 10-K. Consolidated Statement of Operations ($ millions) FY 2016 Cost of sales
Computing Inventory Ratios
Target Corporation reported the following information in a recent Form 10-K.
| Consolidated Statement of Operations ($ millions) | FY 2016 |
|---|---|
| Cost of sales | $62,396 |
| Consolidated Statement of Financial Position ($ millions) | FY 2016 | FY 2015 |
|---|---|---|
| Inventory | $7,741 | $8,282 |
What is the (a) inventory turnover ratio, and (b) average days in inventory, for the fiscal year ended January 30, 2016?
- Enter the answer rounded to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for 1.425.
| a. Inventory turnover ratio | |
| b. Average days in inventory |
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Marketing Research
Authors: David A. Aaker, V. Kumar , George S. Day
8th Edition
047123057X, 9780471230571
