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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 $77,996 Consolidated Statement of Financial Position ($ millions) Inventory FY 2016 FY 2015 $13,762 $8,282 What is the (a) inventory turnover ratio, and (b) average days in inventory, for the fiscal year ended January 30, 2016? Round your answers to two decimal places (for example, enter 5.41 for 5.4055). 0 a. Inventory turnover ratio b. Average days in inventory 0
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