Refer to the financial statements of American Eagle Outfitters given in Appendix
ID: 2576886 • Letter: R
Question
Refer to the financial statements of American Eagle Outfitters given in Appendix B. (Fiscal year ending 2015)
Link to annual report!
https://www.sec.gov/Archives/edgar/data/919012/000119312515087519/d848537d10k.htm
Required:
1. How much inventory does the company hold at the end of the most recent year? (Enter your answer in thousands.)
2. Estimate the amount of merchandise that the company purchased during the current year. (Hint: Use the cost of goods sold equation.) (Enter your answer in thousands.)
Explanation / Answer
ans 1 Mercandise Inventory Jan 31 2015 $278,972 thousands ans 2 Opening Inventory+ Purcahses-Ending inventory=Cost of sales Purcahses=Cost of sales - Opening Inventor+yEnding inventory 2128193-291541+278972 $2115624 thousands According to the annual report link it is the fiscal year 2014 ended on Jan 31 2015. So I have provided answer accordingly