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b. Determine the number of 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 caiculations. Round final answers to one decimal place. 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. Wal-Mart 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. 4. Wal-Mart inventory moves very quickly at higher margins. Feedback roneck Mr Wot a. Inventory Turnover = Cost of Goods Sold/Averoge Inventory b. Number of Days' Sales in Inventory = Average Inventory/Average Daily Cost of Goods Sold