For a recent year, the following cost of goods sold and beginning and ending inventories are provided from corporate annual reports (in millions) for these three companies: Costco Walmart Nordstrom Cost of goods sold $132,886 $385,301 $10,155 Inventories: Beginning of year End of year 11,040 43,783 11,395 44,269 2,027 1,978 a. Determine the inventory turnover ratio for all three companies. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Costco Walmart Nordstrom Inventory Turnover 11.85 8.75 5.07 b. Determine the days' sales in inventory for all three companies. Assume a 365-day year. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Days' sales in inventory Costco days Walmart Nordstrom days days c. Based on the results, which of the following statements is INCORRECT with regard to each company's merchandising concept? 1. Costco holds only mass-appeal items that are sold quickly off the shelf. 2. Walmart has attractive pricing, but the inventory moves more slowly than would be the case at a club warehouse. 3. Nordstorm's inventory moves slowly but at a higher margin. Check My Work 1 more Check My Work uses remaining. Previous Next