This case uses both the income statement (consolidated statement of earnings) and the balance sheet of Starbucks Corporation Visit www pearsonhighered com Horngren to view a link to the Starbucks Corporation Fiscal 2013 Annual Report Requirements 1 What was the value of the company 's inventory at ...

1 Starbucks Inventory Value September 29 2013 11112 in millions September 30 ...

This case uses both the income statement (consolidated statement of earnings) and the balance sheet of Starbucks

Question:

This case uses both the income statement (consolidated statement of earnings) and the of Starbucks Visit www.pearsonhighered.com/ Horngren to view a link to the Starbucks Fiscal 2013 Annual Report.
Requirements
1. What was the value of the company's inventory at September 29, 2013, and September 30, 2012?
2. Review Note 5 (specifically Inventories) in the Notes to Consolidated Financial Statements. What do Starbucks' inventories consist of?
3. What was the amount of Starbucks's cost of goods sold (cost of sales) for the year ending September 29, 2013, and the year ending September 30, 2012?
4. What income statement format does Starbucks use? Explain.
5. Compute Starbucks's gross profit percentage for the year ending September 29, 2013, and the year ending September 30, 2012. Did the gross profit percentage improve, worsen, or hold steady? Assuming the industry average for gross profit percentage is 58.58%, how does Starbucks compare in the industry?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...