P3-13 Inventory management Three companies that compete in the footwear market are Foot Locker, Finish Line, and DSW. The table below shows inventory levels and cost of goods sold for each company for the 2016, 2015, and 2014 fiscal years. Calculate the inventory turnover ratio for each company in each year and summa- rize your findings. All values are in $ millions. LG MyLab Foot Locker Cost of goods sold $4,907 $4,777 $4,372 Inventory Finish Line Cost of goods sold $1,306 $1,237 $1,123 Inventory DSW Cost of goods sold $1,852 $1,74 $1,629 Inventory 2016 2015 2014 1,285 250 ,220 377 343 304 484 451 398