analyzing the financial statements and notes of a chosen SEC 10-K company, specifically focusing on the fiscal year, inventory, income statement, and calculating gross profit and gross profit percentage.

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analyzing the financial statements and notes of a chosen SEC 10-K company, specifically focusing on the fiscal year, inventory, income statement, and calculating gross profit and gross profit percentage.

Read the Notes to the Financial Statements (FS), sometimes called the Notes to Consolidated Financial Statements, for your SEC 10-K company.
These “notes” are displayed after the financial statements.
Discussion Requirements
Answer all of the following questions and do NOT cut and paste from your company SEC report.
Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company? This may be June 30 each year, or it may be the Sunday closest to the last day of January, or some other descriiption.
Inventory: How is Inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course.
Income Statement: Is it a single-step or multi-step income statement?
Calculate the Gross Profit and the Gross Profit Percentage for this year and last year, creating a small table, such as the following:
This Year Last Year
Net Sales $1,200 $1,400
Cost of Goods Sold 800 1,200
Gross Profit 400 200
Gross Profit Percentage 33% 14%
In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 cents of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage.
2. Your descriiption may be different, but these are comments you might make for this posting and in your SEC 10-K report and project.
IncomeStatement:https://www.sec.gov/Archives/edgar/data/320187/000032018723000013/nke-20230228.htm#i300ee78822464ce3b306060c0df33f10_16
Balance Sheets: https://www.sec.gov/ix?doc=/Archives/edgar/data/320187/000032018724000004/nke-20231130.htm#i225f72890990416c9f139136225a76d3_22
Statement of cashflow: https://www.sec.gov/Archives/edgar/data/320187/000032018723000013/nke-20230228.htm#i300ee78822464ce3b306060c0df33f10_25
Statement of Shareholders equity :https://www.sec.gov/Archives/edgar/data/320187/000032018723000013/nke-20230228.htm#i300ee78822464ce3b306060c0df33f10_28
https://www.sec.gov/ix?doc=/Archives/edgar/data/320187/000032018723000039/nke-20230531.htm

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