Tiffany Co. is a high-end jewelry retailer, while Amazon.com uses its e-commerce services, features, and technologies to

Question:

Tiffany Co. is a high-end jewelry retailer, while Amazon.com uses its e-commerce services, features, and technologies to sell its products through the Internet. Recent balance sheet inventory disclosures for Tiffany and Amazon.com (in thousands) are as follows:

Beginning-of-Period Inventory End-of-Period Inventory $1,214,622 Tiffany Co. S1,060,164 566,000 Amazon.com 877,000

The cost of merchandise sold reported by each company was as follows:

a. Determine the inventory turnover and number of days' sales in inventory for Tiffany and Amazon.com. Round to two decimal places.
b. Interpret your results.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...