M6-15. 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) LO3 PRICESMART (POT JW NORDSTROM COMBEY 2018. 2017. Nordstrom (5 millions) Cost of Cost of MBC Sales Goods Sold Inventories Sales Goods Sold Inventories $3,053,754 2,910,062 $2,610,111 2,487,146 $321,025 310,946 $15,480 15,137 $10,155 $1,978 9.890 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. it for I IEO to FIFO ANALYST ADJUSTMENTS 6.1 L02