Use the Hamilton’s Data Set to compute the following: 

a. The rate of inventory turnover for 2014. 

b. Days’ sales in average receivables during 2014.

Hamilton’s Data Set

Hamilton’s, a home- improvement store chain, reported these summarized figures (in billions):

Hamilton's Balance Sheets December 31, 2014 and 2013 ts in thousands 2013 4 5 6 7 Current assets: 8 Cash 9 Short-term investments 10 Accounts receivable 11 Inventory 12 Other current assets 13 Total current assets 14 Other non-current assets 15 Total assets 16 17 8 Current liabilities: 19 Accounts payable 20 Notes payable 21 Accrued liabilities 22 Total current liabilties 23 Long-term liabilities 24 Total liabilities 25 26 27 Common stock, no par 28 Retained eamings 29 Total stockholders' equity 30 31 Total liabilities and equity 32 2014 Assets $1,290,000800,000 260,000 293,500 4120,000 402,500 5,876,000 12,600,00011,690,000 202,000 100,000 4,650,000 503,000 ,745,000s $19345,000 17566,0 Liabilities $3150,000$ 2,985,000 657,000 38,000 3,680,000 4,214000 910,000 360,000 4420,000S3 4294,000 8714,00 7894,000 Stockholders' equity 2,505,000S 1,000,000 8672000 10,631,000S 9,672000 $ 19,345,000S 17,566,000