Go to Deckers Outdoor Corporation's latest annual report information on its Web site. Deckers Outdoor Corporation is the exclusive licensee for the manufacture of Teva footwear. Use the latest 10-K filing to find financial report data. (http://quote.morningstar.com/stock-filing/Annual-Report/2017/3/31/t.aspx?t=:DECK&ft=10-K&d=4f22ca6a8fcc9c2d9bdd418ddd2d9b23)

Answer the following questions about Deckers: 1. What percentage of revenues does Teva represent? Have revenues related to Teva products increased or decreased over the past few years?

2. Read the Summary of Significant Accounting Policies section of the Notes to Consolidated Financial Statements. How are inventories valued and accounted for? Why do you think the company uses this particular costing method?

3. Locate the income statement. How much gross profit is reported for the most recent year? What is the gross profit percentage? Have these amounts increased or decreased compared with the previous year? What explanation does management give for the changes? (Hint: Look in the Managements Discussion and Analysis section.)