The Neiman Marcus Group, Inc., is a high-end specialty retailer, while Amazon.com uses its e-commerce services, features,

Question:

The Neiman Marcus Group, Inc., is a high-end specialty retailer, while Amazon.com uses its e-commerce services, features, and technologies to sell its products through the Internet. The balance sheet inventory disclosures for Neiman Marcus and Amazon.com are as follows for financial statements dated in 2004:

The cost of merchandise sold reported by each company for the fiscal 2004 period was:

a. Determine the inventory turnover and number of days' sales in inventory for Neiman Marcus and Amazon.com.
b. Interpret yourresults.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...