The Kroger Company reported the following data in its annual report (in millions). ...
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Accounting
The Kroger Company reported the following data in its annual report (in millions).
| January 31, 2015 | February 1, 2014 | February 2, 2013 | |
| Net sales | $108,465 | $98,375 | $96,619 |
| Cost of sales (using LIFO) | 85,512 | 78,138 | 76,726 |
| Year-end inventories using FIFO | 6,933 | 6,801 | 6,244 |
| Year-end inventories using LIFO | 5,688 | 5,651 | 5,146 |
Some firms calculate inventory turnover using sales rather than cost of goods sold in the numerator. Calculate Krogers fiscal years ending January 31, 2015, and February 1, 2014, turnover, using sales and FIFO
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