M6-15. Computing and Evaluating Inventory Turnover for Two Companies LO3 Abercrombie & Fitch Co. (ANF) and TJX Companies Inc. (TJX) report the following information Abercrombie & Fitch in their respective January 2016 10-K reports relating to their 2012 and 2011 fiscal years Co. (ANF) TJX Companies Inc. (TJX) mewor Abercrombie& Fitch TJX Companies MBC Cost of Cost of $ millions Sales Goods SoldInventories Sales Goods Sold Inventories $1,361 1,430 $437 461 $30,945 $22,035 20,777 $3,695 3,218 29,078 a. Compute the 2015 inventory turnover for each of these two retailers Module 6 Inventories, Accounts Payable, and Long-Term Assets 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