Question

ANF reported Cost of Goods Sold of $1,041,441 (thousand) for its fiscal year 2013. What was the cost that ANF incurred to acquire inventory for its fiscal year 2013?

Answer 1

The cost of inventory cannot be determined without the beginning and ending inventory figures.

Step-by-step explanation:

The cost that ANF incurred to acquire inventory for its fiscal year 2013 can be calculated by subtracting the ending inventory from the sum of the beginning inventory and the cost of goods sold. Since we only have the cost of goods sold ($1,041,441 thousand), we need additional information to calculate the cost of inventory. Without the beginning and ending inventory figures, it is not possible to determine the exact cost that ANF incurred to acquire inventory for its fiscal year 2013.