Selected are recent balance sheet and income statement information from Coach Inc. and Ann Taylor follows:

($ millions)	Ann Taylor	Coach Inc
Sales	$2,212	$4,763
Cost of goods sold	1,004	1,297
Average accounts receivable	19	159
Average inventory	204	463
Average total assets	907	2,870

Required

1. For each company, compute the following:

1. Accounts receivable turnover
2. Inventory turnover
3. Asset turnover

2. Interpret and comment on any differences you observe between the turnover rates for these two companies, i.e. for each ratio, which company has the better result.