Financial information for American Eagle is presented in Appendix A at the end of the book.

Required:

$1.$ For the most recent year, what is the amount of inventory in the balance sheet?

$3.$ For the most recent year, what is the amount of cost of goods sold in the income statement?

$4.$ Calculate American Eagle's inventory turnover ratio and average days in inventory for the most recent year.

$5-$a$.$ Calculate American Eagle's gross profit ratio for each of the three years.

$5-$b$.$ Do you notice any trend?

$6.$ For the most recent year, calculate American Eagle's ratio of operating expenses $($other than cost of goods sold$)$ to net sales.