Continuing Company Analysis --Amazon: Inventory turnover and Number of days' sales in inventory Amazon.com, Inc. is one of the largest Internet retailers in the world. Target Corporation is one of the largest value-priced general merchandisers operating in the United States. Target sells through nearly 1,800 brick-and-mortar stores and through the Internet. Amazon and Target compete for customers across a wide variety of products, including media, general merchandise, apparel and consumer electronics. Cost of goods sold and inventory Information from a recent annual report are provided for both companies as follows (in Millions): Amazon Target Cost of goods sold $62,752 $51,160 Inventories: Beginning of year 7,411 7,903 End of year 8,299 8,766 a. Compute the inventory turnover for both companies. Round all calculations to one decimal place. Inventory Turnover Amazon.com Target b. Compute the number of days' sales in inventory for both companies. Use the values determined in Part a and assume a 365-day year. Round all calculations to one decimal place Number of Days' Sales In Inventory Amazon.com days Target days Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: 5 units at $30 Jan. 1 Inventory Feb. 17 Purchase 16 units at $32 Jul. 21 Purchase 8 units at $33 Nov. 23 Purchase 10 units at $33 There are 12 units of the item in the physical Inventory at December 31. The periodic inventory system is used. Round average unit cost to one decimal and final answers to the nearest whole dollar, if equired a. Determine the inventory cost by the first in, first-out method. 926 X b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method