Refer to the Target 2016 Annual Report:(https://corporate.target.com/annual-reports/pdf-viewer-2016?cover=28067&parts=28073) . 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.

1)What was the amount of Target' cost of goods sold (cost of sales) for the current FY?

2)What was the amount of Target' cost of goods sold (cost of sales) for the prior FY?

3)Review Note 12 Inventory, in the Notes to Consolidated Financial Statements. What does Target include in the cost of inventory?

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