aj2 Estimating Useful Life and Percent Used UpThe property and equipment section of the lululemon athletica 2018 balance sheet follows.Property and Equipment (in thousands) Feb. 3, 2019 Jan. 28, 2018Land$78,636$83,048Buildings38,03039,278Leasehold improvementsFurniture and fixtures362,571301,449103,73391,778Computer hardware69,54261,734Computer software230,689173,997Equipment and vehicles15,00914,806Work in progress74,27151,260Property and equipment, gross972,481817,350Accumulated depreciation(405,244)$567,237(343,708)$473,642Property and equipment, netDepreciation expense related to property and equipment was $122.4 million and $108.00 million, for the years ended February 3, 2019, and January 28, 2018, respectively.Requireda. Consider the level of the various PPE components. Does it seem likely that the company manufactures its own inventory? No ✰b. Compute the estimated useful life of lululemon's depreciable assets.Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555).8.3x yearsc. Compute the estimated percent used up of lululemon's depreciable assets.Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%).13.1* %Check

PPE stands for Property, Plant, and Equipment. It represents the type of assets that are categorized…

Required a. Consider the level of the various PPE components. Does it seem likely that the company manufactures its own inventory? No b. Compute the estimated useful life of lululemon's depreciable assets. Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555). 8.3 x years c. Compute the estimated percent used up of lululemon's depreciable assets. Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%). 13.1 * %

Required a. Consider the level of the various PPE components. Does it seem likely that the company manufactures its own inventory? No b. Compute the estimated useful life of lululemon's depreciable assets. Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555). 8.3 x years c. Compute the estimated percent used up of lululemon's depreciable assets. Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%). 13.1 * %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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