Inventory Turnover for Raven, Inc.

The following amounts are available from the 2015 financial statements in the Form 10-K for Raven, Inc., Inc., the fashion retailer. (All amounts are in millions of dollars and January 30, 2016, is the end of the companys 2015 fiscal year.)

Cost of sales and related buying and occupancy costs	$7,759
Merchandise inventories, January 30, 2016	917
Merchandise inventories, January 31, 2015	838

Required:

1. Compute Raven, Inc.'s inventory turnover ratio for 2015. If required, 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 Raven, Inc. determine whether the time it takes it to sell inventory on average is reasonable?