Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company. This may be June 30 each year, or it may be the Sunday closed to the last day of January, or some other description. Inventory: How is inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course. Income statement is it a single-step or multi-step income statement? Calculate the Gross Profit and Gross Profit Percentage for this year and last year, creating a small table, such as the following: In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage. Your description may be different, but these are comments you might make for the posting and in your SEC 10-K and project. Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company. This may be June 30 each year, or it may be the Sunday closed to the last day of January, or some other description. Inventory: How is inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course. Income statement is it a single-step or multi-step income statement? Calculate the Gross Profit and Gross Profit Percentage for this year and last year, creating a small table, such as the following: In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage. Your description may be different, but these are comments you might make for the posting and in your SEC 10-K and project