The general merchandise retail industry has a number of segments represented by the following companies:
Company Name ______________________ Merchandise Concept
Costco Wholesale Corporation ............... Membership warehouse
Wal-Mart ................................. Discount general merchandise
JCPenney Company .................................. Department store
For a recent year, the following cost of merchandise sold and beginning and ending inventories have been provided from corporate annual reports (in millions) for these three companies:

a. Determine the inventory turnover ratio for all three companies. Round to two decimal places.
b. Determine the days' sales in inventory for all three companies. Use 365 days and round to one decimal place.
c. Interpret these results based on each company's merchandise concept?

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Cost of merchandise sold Merchandise inventory, beginning Merchandise inventory, endin Costco $101,065 8,908 8,456 Wal-Mart $365,086 45,141 44,858 JCPenney $8,074 2,721 2,652