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Inventory Tumover for Caterpillar The following amounts are available from the 2013 financial statements in the Form 10-K for Caterpillar, 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.) Cost of sales and related buying and occupancy costs Merchandise inventories, February 1, 2014 Merchandise inventories, February 2, 2013 Required: 1. Compute Caterpillar's inventory turnover ratio for 2013. If required, do not round intermediate calculations and round your final answer to two decimal places. Use rounded answer in the subsequent calculations $7,829 887 808 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? All of these. Historical average number of days of inventory for Nordstrom in the past. ecent changes in inventory mix, customer base, and market demand for products. Industry norms for comparable large, national retailers