Inventory Turnover for Nordstrom The following amounts are available from the 2013 financial statements in the Form 10-K for Nordstrom, Inc., the fashion retailer. (All amounts are in millions of dollars and February 1, 2014, is the end of the company's 2013 fiscal year.) $7,737 Cost of sales and related buying and occupancy costs Merchandise inventories, February 1, 2014 1,531 Merchandise inventories, February 2, 2013 1,360 Required: 1. Compute Nordstrom's inventory turnover ratio for 2013. Do not round intermediate calculations and round your final answer to two decimal places. Use rounded answer in the subsequent calculations. times 2. What is the average length of time it takes to sell an item of inventory? Assume a 360-day year. When required, round your answer to the nearest whole number. days 3. What additional information would help Nordstrom determine whether the time it takes it to sell inventory on average is reasonable