Computing and Evaluating Inventory Turnover for Two Companies PriceSmart and Nordstrom report the following information in their respective 10-K reports relating to their two most recent fiscal years. PriceSmart ($ thousands) 2018 2017. Nordstrom ($ millions) Cost of Sales Goods Sold Inventories Sales Cost of Goods Sold Inventories $3,053,754 $2,610,111 2,910,062 2,487,146 $321,025 310,946 $15,480 15,137 $10,155 9,890 $1,978 2,027 a. Compute the 2018 inventory turnover for each of these two retailers. b. Discuss any difference we observe in inventory turnover between these two companies. Does the dif- ference confirm our expectations given their respective business models? Explain. (Hint: Nordstrom is a higher-end retailer and PriceSmart operates no-frills, warehouse stores.) c. Describe ways that a retailer can improve its inventory turnover.