1. How much inventory does the company hold on January 29, 2017? Does this represent an increase or decrease in comparison to the prior year?

a. $11,809, which is a decrease
b. $11,809, which is an increase
c. $12,549, which is a decrease
d. $12,549, which is an increase

2. What method(s) does the company use to determine the cost of its inventory? Describe where you found this information.

a. LIFO;
b. FIFO;
c. Weighted Average Cost; the Balance Sheet
d. Specific Identification; Management’s Discussion and Analysis

3. Compute to one decimal place the company’s inventory turnover ratio and days to sell for the year ended January 29, 2017.

a. 5.1 and 71.6
b. 5.0 and 73.0
c. 7.5 and 48.7
d. 7.8 and 46.8