Answer the following questions using these instructions: : Use the financial section of the February stfiscal year filing date March th annual report of American Eagle Outfitters, Inc. to answer the following questions. The annual report can be found at WWWSEC.GOV.

Where is accounts receivable reported? Explain why using net sales to calculate the receivables turnover ratio might not be a good indicator of a companys ability to efficiently manage receivables for a retail company like American Eagle, which typically sells clothing for cash. pts

Does American Eagle report an allowance for uncollectible accounts in the balance sheet? If so how much is reported for the most recent year?

When does the American Eagle recognize revenue? Is this consistent with the Revenue Recognition Principle?

How does American Eagle record the purchase of a gift card? Is this way consistent with what you learned in ACC pts

In the summary of significant accounting policies, what is American Eagles procedure in accounting for inventory?

Calculate American Eagles inventory turnover ratio and average days in inventory for the most recent year.