Determine the inventory turnover and number of days sales, Financial Accounting

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Determine the inventory turnover and number of days sales

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:

	End-of-PeriodInventory	Beginning-of-PeriodInventory
Neiman Marcus Group, Inc.	$720,277,000	$687,062,000
Amazon.com	479,709,000	293,917,000

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

	Neiman Marcus Group, Inc.	Amazon.com
Cost of merchandise sold	$2,321,110,000	$5,319,127,000

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

b. Interpret your results.

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Financial Accounting: Determine the inventory turnover and number of days sales

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Financial Accounting: Determine the inventory turnover and number of days sales

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