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The Kroger Company reported the following data in its annual report (in millions). January 31, 2015 February 1, 2014 February 2, 2013 Net sales $108,465
The Kroger Company reported the following data in its annual report (in millions).
January 31, 2015 | February 1, 2014 | February 2, 2013 | |||||
Net sales | $108,465 | $98,375 | $96,619 | ||||
Cost of sales (using LIFO) | 85,512 | 78,138 | 76,726 | ||||
Year-end inventories using FIFO | 6,933 | 6,801 | 6,244 | ||||
Year-end inventories using LIFO | 5,688 | 5,651 | 5,146 |
Compute Krogers inventory turnovers for fiscal years ending January 31, 2015, and February 1, 2014, using:
Inventory turnover using cost of sales and FIFO inventory. 2015? 2014? |
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