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:
| 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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