ACC homework

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acc homework due friday 5 pm..........................................................................................................................................................................................................................................................................................

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HOMEWORK #6 Due October 26, 5 pm 10 points To complete the required items below, refer to the following: 1. The financial statements of Nike for the year ended May 31, 2017 Link: https://www.sec.gov/Archives/edgar/data/320187/000032018717000090/nke5312017x10k.htm#s6108B95C44B70D82F2F7B1AD8193668A 2. The financial statements of Under Armor for the year ended December 31, 2017 provided on D2L. Link: https://www.sec.gov/Archives/edgar/data/1336917/000133691718000009/ua20171231x10k.htm#s37D6E3A93272547FA76B94BA8DE3012B 3. An Industry Ratio Report from the textbook provided on D2L. Provide your answers in one Word document (you can download this document and fill in accordingly. Required: 1. How much inventory does Nike hold at the end of the most recent period (May 31, 2017)? 2. Estimate the amount of merchandise that Nike purchased during the year ended May 31, 2017 (Hint: Use the cost of goods sold equation). 3. What method does Nike use to determine the cost of its inventory? 4. Compute the inventory turnover ratio (cost of goods sold from the income statement divided by average inventory) for both Nike and Under Armor for the year ending May 31, 2017 and December 31, 2017, respectively. Show your work and report the ratios in the below table. Discuss in a few sentences, what you can infer from the difference. Nike Under Armor 5. Compare the inventory turnover ratio for both companies to the industry average. Report the ratios in the below table and discuss in a few sentences whether these two companies are doing better or worse than the industry average in managing their inventory. Industry Average Nike Under Armor INDUSTRY RATIO REPORT Retail Family Clothing Stores ...
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