Using the Annual Report of American Airlines (link below) answer the following questions:

• What is the value of the company's inventory at year end?
• What was the amount of cost of goods sold for the year?
• What income statement format does the company use? Explain.
• Compute the company's gross profit percentage for the year end.
• Did the gross profit percentage improve, worsen, or hold steady?
• How does the company's gross profit percentage compare to the industry?
• What are the company's inventory turnover and days sales in inventory for the year end? Is there anything interesting to note about these ratios?

http://phx.corporate-ir.net/phoenix.zhtml?c=117098&p=irol-reportsannual(Links to an external site.)Links to an external site.