How much inventory does the company hold on February 2, 2014? Does this represen
ID: 2472300 • Letter: H
Question
How much inventory does the company hold on February 2, 2014? Does this represent an increase or decrease in comparison to the prior year?
What method(s) does the company use to determine the cost of its inventory? Describe where you found this information.
Compute to one decimal place the company’s inventory turnover ratio and days to sell for the year ended February 2, 2014.
Where does the company disclose the amount of its Allowance for Doubtful Accounts? (Hint: The company refers to its Allowance for Doubtful Accounts as a “Valuation Reserve” related to Accounts Receivable.)
Compute the company’s receivables turnover ratio and days to collect for the year ended February 2, 2014.
1.How much inventory does the company hold on February 2, 2014? Does this represent an increase or decrease in comparison to the prior year?
$10,710, which is a decrease $10,710, which is an increase $11,057, which is a decrease $11,057, which is an increase APPENDIX A Ecerpts froen the Facal 2013 Asneal Report of The Home Depo, Ine THE NOME DIPOT, INC, AND SUESIDIARIES Consolidated Balance February 2 February 3, amounts in miltions, except share and per share data Cerrent Assets: 2,494 Cash and Cahalents Receivables, net Merchandise Inventories Ober Current Assets $ 1,929 11,057 Total Current Assets Property and Equipmem, at cost Ne Property and Equipment Other Assets LIABILITIES AND STOCKHOLDERS' EQUITY Currem Liabilities: 5,797 5,376 Accounts Payable Accrued Salarics and Related Espenses Sales Taxes Payable Deterred Revenue Income Taxes Payable Current Installments of Long-Tem Debt Ober Acereed Expenses Toeal Cument Liabilities Long-Term Deb, excluding crem insallmems Other Long-Term Liabilities Deferred Income Tases Total Liabilities STOCKHOLDERS' EQUITY Common Stock, par value $0.05 autborized: 10 billion shares; isssed: 1.761 billion shares at February 2, 2014 and 1.754 billion shares at Fcbruary 3, 2013; outstanding I.380 billion shares at February 2, 2014 and 1.484 blonshures a February 3, 2013 Paid-In Capita Retained Earnngs Accumelated Oiher Comprehensive Income Treasury Stock, atost, 381 millon shares at February 2, 2014 and 270 milion shares at Fcbnuary 3, 2013 1 19,194 Total Stockholders' Equity Total Liabilities and Stockholders' Equity accumpasying Noer o Coolidasnd Finaerial SeasemntExplanation / Answer
1.
A $11,057, which is an increase.
2.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The majority of the Company’s Merchandise Inventories are stated at the lower of cost (first-in, first-out) or market, as determined by the retail inventory method
3.1
4.7 and 77.7
3.2
February 2, 2014 February 3, 2013
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.