Obtain the most recent annual report for JC Penney find reports via the internet. 1. List...

Obtain the most recent annual report for JC Penney find reports via the internet.

1. List the total dollar value of the inventory for 2 years on balance sheet presented in the annual report.

2. Compute the percentage of inventories to total assets for 2 years of your annual report’s balance sheets and assess the results.

c. List the Cost of Goods Sold and the Gross Profit for your company for 2 years in income statement appearing in the annual report.

i. Calculate the percentage of Cost of Goods Sold to Net Sales and the percentage of Gross Profit to Net Sales for 2 periods and assess the results

d. Analyze/assess/discuss your findings.

Expert Solution

			2019		2018
1-	dollar value of the inventory		2166		2437

2-	percentage of inventories to total assets	2166/7989	27.11%	2437/7721	31.56%
	dollar value of the inventory		2166		2437
	total of assets		7989		7721

	% of inventory of total assets shows a decline in value in comparison to previous year this means company has reduced its investment in Inventory and now it occupies less value total assets in comparison to previous year

3-	cost of goods sold		7013		7870
	gross profit-not given in annual report so it can be calculated =net sales -cost of goods sold	10716-7013	3703	11664-7870	3794

4-	cost of goods sold to net sales=cost of goods sold/net sales	7013/10716	65.44%	7870/11664	67.47%
	cost of goods sold		7013		7870
	net sales		10716		11664

	gross profit to net sales ratio	gross profit/net sales	34.56%		32.53%
	gross profit-not given in annual report so it can be calculated =net sales -cost of goods sold	10716-7013	3703	11664-7870	3794
	net sales		10716		11664

	This ratio shows an improvement over the year and this increase in due to decrease in cost of goods sold inspite of decrease in net sales of the current Year

jeff jeffy answered 2 years ago

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