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

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 millions) are as follows:

Beginning-of-Period inventory End-of-Period Inventory $1,601 1,399 Tiffany Co. Amazon.com $1,242 1,200

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

Tiffany Co. Amazon.com

Cost of merchandise sold $1,215 $14,896

a. Determine the inventory turnover and number of days’ sales in inventory for Tiffany and Amazon.com Round to two decimal places and nearest day.

b. Interpret your results.

Beginning-of-Period inventory End-of-Period Inventory $1,601 1,399 Tiffany Co. Amazon.com $1,242 1,200

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