SURVEY OF ACCOUNT.(LL)-W/ACCESS>CUSTOM<
SURVEY OF ACCOUNT.(LL)-W/ACCESS>CUSTOM<
5th Edition
ISBN: 9781260222326
Author: Edmonds
Publisher: MCG CUSTOM
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Chapter 9, Problem 21P

Problem 9-21 Ratio analysis

Selected data for Dalton Company for 2018 and additional information on industry averages follow:

Chapter 9, Problem 21P, Problem 9-21 Ratio analysis Selected data for Dalton Company for 2018 and additional information on , example  1

Chapter 9, Problem 21P, Problem 9-21 Ratio analysis Selected data for Dalton Company for 2018 and additional information on , example  2

Required

  1. a. Calculate and compare Dalton Company’s ratios with the industry averages.
  2. b. Discuss factors you would consider in deciding whether to invest in the company.
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6 pts financial accounting
Recently, Abercrombie & Fitch has been implementing a turnaround strategy since its sales had been falling for the past few years (11% decrease in 2014, 8% in 2015, and just 3% in 2016.) One part of Abercrombie's new strategy has been to abandon its logo-adorned merchandise, replacing it with a subtler look. Abercrombie wrote down $20.6 million of inventory, including logo-adorned merchandise, during the year ending January 30, 2016. Some of this inventory dated back to late 2013. The write-down was net of the amount it would be able to recover selling the inventory at a discount. The write-down is significant; Abercrombie's reported net income after this write-down was $35.6 million. Interestingly, Abercrombie excluded the inventory write-down from its non-GAAP income measures presented to investors; GAAP earnings were also included in the same report. Question: What impact, would the write-down of inventory have had on Abercrombie's current ratio?
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