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Determine the inventory turnover and number of days sales

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Reference no: EM133051817

Question - Kracker Corp., Foodstuff, Inc., and Winston Stores, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory (in millions) information:

 

Kracker Corp.

Foodstuff Inc.

Winston Stores

Cost of merchandise sold

$32,850.0

$34,675.0

$35,770.0

Inventory, beginning of year

1,908.9

2,131.8

1,615.0

Inventory, end of year

1,871.1

2,048.2

1,521.0

Required - Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies.

Reference no: EM133051817

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