Using the Annual Report of any American (non service) company, answer the following questions:What is the value of the company’s inventory at year end?What was the amount of cost of goods sold for the year?What income statement format does the company use? Explain.Compute the company’s gross profit percentage for the year end.Did the gross profit percentage improve, worsen, or hold steady?├┐How does the company’s gross profit percentage compare to the industry?What are the company’s inventory turnover and days sales in inventory for the year end? Is there anything interesting to note about these ratios?

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