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GameStop Corp. is the world's largest multichannel video game retailer. The company reported the following amounts (in millions) in its annual financial statements at the
GameStop Corp. is the world's largest multichannel video game retailer. The company reported the following amounts (in millions) in its annual financial statements at the end of January. Net Sales Revenue Cost of Goods Sold Beginning Inventory Ending Inventory 2016 $9,365 6,445 1,145 1,160 2015 $9,295 6,520 1,200 1,145 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) Inventory Turnover Ratio Days to Sell 2016 times per year days 2015 times per year days
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