M6-15. Computing and Evaluating Inventory Turnover for Two Companies Abercrombie & Fitch Co. (ANF) and TJX Companies Inc. (TJX) report the following information in their respective January 2016 10-K reports relating to their 2012 and 2011 fiscal years. Abercrombie & Fitch TJX Companies $ millions Cost of Sales Goods Sold Inventories Sales Cost of Goods Sold Inventories 2015 ....... $3,519 2014 ....... 3,744 $1,361 1,430 $437 461 $30,945 29,078 $22,035 20,777 $3,695 3,218 a. Compute the 2015 inventory turnover for each of these two retailers. b. Discuss any difference you observe in inventory turnover between these two companies. Does the difference confirm your expectations given their respective business models? Explain. (Hint: ANF is a higher-end retailer and TJX sells more value-priced clothing.) c. Describe ways that a retailer can improve its inventory turnover