determine the inventory turnover and number of days rsquo sales in inventory for tif 554048
CP 7-5 Comparing inventory ratios for two companies
Tiffany Co. is a high-end jewelry retailer, while Amazon.com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Tiffany and Amazon.com (in millons) are as follows:
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determine the inventory turnover and number of days rsquo sales in inventory for tif 554048
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|
End-of-Period Inventory |
Beginning-of-Period Inventory |
|
|
Tiff any Co. |
$1,601 |
$1,242 |
|
Amazon.com |
1,399 |
1,200 |
The cost of merchandise sold reported by each company was as follows:
|
Tiff any Co. |
Amazon.com |
|
|
Cost of merchandise sold |
$1,215 |
$14,896 |
a. Determine the inventory turnover and number of days’ sales in inventory for Tiffany and Amazon.com. Round to two decimal places and nearest day.
b. Interpret your results.
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