Business, 14.04.2020 21:29 21cassitsh

Target Corporation prepares its financial statements according to U. S. GAAP. Target's financial statements and disclosure notes for the year ended January 30, 2016, are available in Connect. This material is also available under the Investor Relations link at the company's website

Required:
a. What inventory method(s) does Target use to value its inventories?
b. In addition to the purchase price, what additional expenditures does the company include in the initial cost of merchandise?
c. Calculate the gross profit ratio and the inventory turnover ratio for the fiscal year ended January 30, 2016. Compare Target's ratios with the industry averages of 24.5% and 7.1 times.

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Target Corporation prepares its financial statements according to U. S. GAAP. Target's financial sta...

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