Link for the annual reporthttpsllcorporatetargetc cover 2806

Link for the annual report-httpsllcorporate.target.c cover 28067&parts; 28073 Refer to the Target 2016 Annual Report. On page 32 of the annual report is Target Income statement (called the Consolidated Statements of Operations). On page 34 is the Balance Sheet (called the Consolidated Statements of Financial Position). Note: the Balance Sheet ending date for current Fiscal Year (FY) 2016 is January 28, 2017. The Balance Sheet ending date for prioe FY 2015 is January 30, 2016. Requirements: Answer the following questions using Target 2016 Annual Report. You may work with another student but the work must be on your own. Use correct fonmatting and proper grammar. The financial reports are stated in millions of dollars. When possible, please write answers exactly as they appear in the financial statements. Include commas when writing dollar amounts. Do not inclade dollar signs. Do not include the word million. Do not include the % sign Question 9. Did the value of inventory incrcase or decrcase from the prior year? pdf-viewer-2016? -Increase -Decrease Question 10. Review Note 12 Inventory, in the Notes to Consolidated Financial Statements What does Target include in the cost of inventory? Question 11. What was the amount of Target cost of goods sold (cost of sales) for the current FY Question 12. What was the amount of Targe? cost of goods sold (cost of sales) for the prior FY? million

Solution

9. The answer is – decrease. The value of inventory decreased from the previous year. It declined to 8,309 in 2016 from 8,601 in 2015.

10. The cost of inventory for Target includes the amount that Target has paid to its suppliers to acquire the inventory. It also includes incidental costs like freight costs incurred for delivery of product to Target’s stores and distribution centers, import costs and cash discounts.

11. 48,872

12. 51,997