The Kroger Company Net sales Cost of sales (using LIFO) Year-end inventories using FIFO Year-end inventories using LIFO Required: Compute the following: Kroger uses the LIFO inventory method and sales and cost of sales are reported above using LIFO. LIFO reserve is Gross margin in dollars (LIFO) Gross margin in dollars (FIFO) LIFO Inventory turnover* January 31, 2015 February 1, 2014 February 2, 2013 108,465.00 98,375.00 96,619.00 78,138 6,801 5,651 FIFO Inventory turnover* 85,512 6,933 5,688 76,726 6,244 5,146 January 31, 2015 February 1, 2014 February 2, 2013
The Kroger Company Net sales Cost of sales (using LIFO) Year-end inventories using FIFO Year-end inventories using LIFO Required: Compute the following: Kroger uses the LIFO inventory method and sales and cost of sales are reported above using LIFO. LIFO reserve is Gross margin in dollars (LIFO) Gross margin in dollars (FIFO) LIFO Inventory turnover* January 31, 2015 February 1, 2014 February 2, 2013 108,465.00 98,375.00 96,619.00 78,138 6,801 5,651 FIFO Inventory turnover* 85,512 6,933 5,688 76,726 6,244 5,146 January 31, 2015 February 1, 2014 February 2, 2013
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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