Inferring Transactions from Financial Statements Abercrombie & Fitch Co. (ANF) is a specialty retailer of casual apparel. The following information is taken from ANFs fiscal 10-K report for the fiscal year 2017, which ended February 3, 2018. (All amounts in $ thousands.) Selected Balance Sheet Data February 3, 2018 January 28, 2017 Inventory $424,393 $399,795 Accrued compensation 65,045 37,235 a. ANF reported Cost of Goods Sold of $1,408,848 (thousand) for its fiscal year 2017. What was the cost that ANF incurred to acquire inventory for its fiscal year 2017? $Answer (thousand) b. Assume that ANF reported Compensation Expense of $650,000 (thousand) for its fiscal year 2017. What amount of compensation was paid to its employees for fiscal year 2017? $Answer (thousand) c. Where would you expect ANF to report its balance of Accrued Compensation? Reported as a Answer on the balance sheet.