02 Feb Inventory Turnover for Best BuyThe following amoun
Inventory Turnover for Best BuyThe following amounts are available from the 2007 annual report of Best Buy Co., Inc. (All amounts are in millions of dollars.)Required1. Compute Best Buy’s inventory turnover ratio for 2007.2. What is the average length of time it takes to sell an item of inventory? Explain your answer.3. Do you think the average length of time it took Best Buy to sell inventory in 2007 is reasonable?What other information do you need to fully answer that question?