Question: Refer to best buys financial statements in appendix a to

Refer to Best Buy’s financial statements in Appendix A to answer the following.
1. What amount of inventories did Best Buy report as a current asset on February 28, 2009? On
March 1, 2008?
2. Inventories represent what percent of total assets on February 28, 2009? On March 1, 2008?
3. Comment on the relative size of Best Buy’s inventories compared to its other types of assets.
4. What accounting method did Best Buy use to compute inventory amounts on its balance sheet?
5. Compute inventory turnover for fiscal year ended February 28, 2009, and days’ sales in inventory as of February 28, 2009.

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