CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5 GameWorld Corp. is the worid's largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). 2013 2012 Net Sales Revenue Cost of Goods Sold Beginning Inventory Ending Inventory $14.400 $13,900 8,440 8,040 2,350 1,650 2,750 2,350 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). 2013 2012 Inventory Turnover Ratio times per year times per year Days to Sell days days 2. Is GameWorld performing better than its competitor Ultimate Value where inventory turned over 3.9 times during 2013 (65 days to sell). Yes O No