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Problem: Dillard's,Inc., operates 315 department stores located in 29 states primarily in the Southwest, Southeast, and Midwest. In its annual report for the year ended January 31, 2009, the company reported Cost of Goods Sold of $4,827 million, ending inventory for the current year of $1,374 million, and ending inventory for the previous year of $1,779 million.
Required:
Question: Calculate the inventory turnover ratio and days to sell for Dillard's.(Consider 365 days in a year. Consider rounded inventory turnover ratio to calculate Days to sell. Round your answers to 1 decimal place.)
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