The following amounts are available from the 2011 financial statements in the Form 10-K for Nordstrom, Inc., the fashion retailer. (All amounts are in millions of dollars and January 28, 2012, is the...

The following amounts are available from the 2011 financial statements in the Form 10-K for Nordstrom, Inc., the fashion retailer. (All amounts are in millions of dollars and January 28, 2012, is the end of the company’s 2011 fiscal year.)

Required

1. Compute Nordstrom’s inventory turnover ratio for 2011.

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 Nordstrom to sell inventory in 2011 is reasonable? What other information do you need to fully answer that question?