Question: Using either Gap’s most current Form
Using either Gap’s most current Form 10-K or the company’s annual report, answer the questions below. To obtain the Form 10-K, use either the EDGAR system, following the instructions in Appendix A, or the company’s website. The company’s annual report is available on its website.
Required:
a. How many stores did Gap operate at year-end? (Do not include “Franchise store locations.â€)
b. What was the average amount of inventory per store? Use all stores operated by The Gap, Inc., not just those called The Gap.
c. Using the quarterly financial information in the 10-K, complete the following chart:
d. Referring to the chart in Requirement c, explain why Gap’s sales vary so widely throughout its fiscal year. Do you believe that Gap’s inventory level varies throughout the year in relation to sales?
Transcribed Image Text:
Quarter Sales during Each Quarter 1 3 4
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