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    Selected Disclosures Related To Foot Locker Company S Inventory Are Provided

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    Taimour Hassan
    Foot Locker provides disclosures on their inventory accounting methods which include using LIFO for domestic inventories and FIFO for international inventories. They apply the retail inventory method and include costs of sales and do not report a LIFO reserve. Their gross profit percentages for 2011-2013 and 2013 inventory turnover ratio and days inventory on hand are also disclosed.

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    Selected Disclosures Related To Foot Locker Company S Inventory Are Provided

    Uploaded by

    Taimour Hassan
    12 views1 page
    Foot Locker provides disclosures on their inventory accounting methods which include using LIFO for domestic inventories and FIFO for international inventories. They apply the retail inventory method and include costs of sales and do not report a LIFO reserve. Their gross profit percentages for 2011-2013 and 2013 inventory turnover ratio and days inventory on hand are also disclosed.

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    Selected Disclosures Related to Foot Locker Company s Inventory Are Provided

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    Foot Locker provides disclosures on their inventory accounting methods which include using LIFO for domestic inventories and FIFO for international inventories. They apply the retail inventory method and include costs of sales and do not report a LIFO reserve. Their gross profit percentages for 2011-2013 and 2013 inventory turnover ratio and days inventory on hand are also disclosed.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views1 page

    Selected Disclosures Related To Foot Locker Company S Inventory Are Provided

    Uploaded by

    Taimour Hassan
    Foot Locker provides disclosures on their inventory accounting methods which include using LIFO for domestic inventories and FIFO for international inventories. They apply the retail inventory method and include costs of sales and do not report a LIFO reserve. Their gross profit percentages for 2011-2013 and 2013 inventory turnover ratio and days inventory on hand are also disclosed.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Selected disclosures related to Foot Locker Company s

    inventory are provided #3067


    Selected disclosures related to Foot Locker Company’s inventory are provided below. Use
    these disclosures to answer the following questions: a. What percentage of inventory at the end
    of 2013 is accounted for under each cost- flow assumption that Foot Locker uses? b. Why
    would Foot Locker use LIFO for domestic U. S. inventories but FIFO for international
    inventories? c. How does Foot Locker apply the retail inventory method? d. What types of costs
    are included in the cost of sales? e. Why does Foot Locker not report a LIFO reserve? f. What is
    Foot Locker’s gross profit percentage in 2011, 2012, and 2013? g. What is Foot Locker’s
    inventory turnover ratio and days inventory on hand in 2013?QUESTION CONTINUE TO NEXT
    PAGE
    View Solution:
    Selected disclosures related to Foot Locker Company s inventory are provided

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