Computing and Evaluating Inventory Turnover for Two Companies Abercrombie & Fitch Co. (ANF) and TJX Companies (TJX) report the following information in their respective January 2016 10-K reports relating to their 2015 and 2014 fiscal years.   Abercrombie & Fitch   TJX Companies $ millions Sales Cost of Goods Sold Inventories   Sales Cost of Goods Sold Inventories 2015 $3,444 $1,336 $462   $29,834 $20,924 $3,846 2014 3,744 1,430 461   29,078 20,777 3,218 Compute the 2015 inventory turnover for each of these two retailers. Round answers to two decimal places. Inventory turnover rate

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.