The Kroger CompanyNet salesCost of sales (using LIFO)Year-end inventories using FIFOYear-end inventories using LIFORequired: Compute the following:LIFO reserve isKroger uses the LIFO inventory method and sales and cost of sales are reportedabove using LIFO.Gross margin in dollars (LIFO)Gross margin in dollars (FIFO)LIFO Inventory turnover*January 31, 2015108,465.00FIFO Inventory turnover*85,5126,9335,688February 1, 2014 February 2, 201398,375.0096,619.0078,13876,7266,8016,2445,6515,146January 31, 2015 February 1, 2014 February 2, 2013

Name: The Kroger CompanyNet salesCost of sales (using LIFO)Year-end invento
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Description: The Kroger CompanyNet salesCost of sales (using LIFO)Year-end inventories using FIFOYear-end inventories using LIFORequired: Compute the following:LIFO reserve isKroger uses the LIFO inventory method and sales and cost of sales are reportedabove usi

The inventory turnover ratio indicates the number of times the inventory is sold. It is an…

Business

Accounting

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

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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