Link for the annual report- https://corporate.target.com/annual-reports/pdf-viewer-2016?cover=28067&parts=28073

Refer to the Target 2016 Annual Report. On page 32 of the annual report is Target Income statement (called the Consolidated Statements of Operations). On page 34 is the Balance Sheet (called the Consolidated Statements of Financial Position).

Note: the Balance Sheet ending date for current Fiscal Year (FY) 2016 is January 28, 2017. The Balance Sheet ending date for prior FY 2015 is January 30, 2016.

Requirements: Answer the following questions using Target 2016 Annual Report. You may work with another student but the work must be on your own. Use correct formatting and proper grammar. The financial reports are stated in millions of dollars. When possible, please write answers exactly as they appear in the financial statements. Include commas when writing dollar amounts. Do not include dollar signs. Do not include the word million. Do not include the % sign.

Question 16. Which inventory costing method does Target use? See Note 12 Inventory, in the Notes to Consolidated Financial Statements.

Question 17. Determine the inventory turnover for the current FY. Round to one decimal place.

= ____ times

Question 18. Determine the days sales in inventory for the current FY. Round UP to whole days.

= ____days