Acct-1310 Discussion 4

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Please read this article before posting your initial comment and a reply to another student's comment. You will not see the comments of other students until yours is posted. Questions to Consider 1. What does the "write-down" mean? 2. What journal entry would Abercrombie \& Fitch have made to write down its merchandise inventory during the year ended January 30,2016 ? 3. What impact would the write-down of inventory have had on Abercrombie's assets? Liabilities? Equity? 4. What impact would the write-down of inventory have had on Abercrombie's expenses? Gross margin? Net income? 5. What impact, if any, would the write-down of inventory have had on Abercrombie's current ratio? 6. From an investor standpoint, do you think that the effect of the inventory write-down should be considered when evaluating Abercrombie \& Fitch? Explain. Aberoronbie \& Fitoh mexehandisn invertoky? milion