Question - 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?