Consider the department store example provided in the chapter regarding gross margin percentages under different inventory methods How might an auditor approach developing a pro forma version of this data to enable a comparison between both retailers 2004 2003 2002 Nordstrom 36 1 34 6 33 2 (FIFO) F...

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Consider the department store example provided in the chapter regarding gross margin percentages under different inventory methods:

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Consider the department store example provided in the chapter regarding gross margin percentages under different inventory methods:

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How might an auditor approach developing a pro forma version of this data to enable a comparison between both retailers?

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Auditing Assurance And Risk

ISBN: 9780324313185

3rd Edition

Authors: W. Robert Knechel, Steve Salterio, Brian Ballou

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Question Posted: May 03, 2024 12:54 PM

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Consider the department store example provided in the chapter regarding gross margin percentages under different inventory methods:

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2004 2003 2002 Nordstrom 36.1% 34.6% 33.2% (FIFO) Federated (Macy's) 40.5% 40.4% 40.0% (retail LIFO)

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Auditing Assurance And Risk

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