Overview
Dick’s Sporting Goods, Inc. (NYSE: DKS) is headquartered in Pennsylvania and is a leading sporting goods retailer. Dick’s Sporting Goods, Inc. offers a variety of high-quality sports equipment, apparel, footwear, and accessories. The company sells inventory in its stores (Dick’s Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, and Going Going Gone!) and online through its Web site. Visit Dick’s Sporting Goods, Inc.’s 2021 annual reportLinks to an external site.
Requirements
- On which financial statement would you find Merchandise Inventory? What was the amount of merchandise inventory as of January 29, 2022, and January 30, 2021?
- On which financial statement would you find Cost of Goods Sold? What does Cost of Goods Sold represent? What was the amount of cost of goods sold for fiscal year ended January 29, 2022, and fiscal year ended January 30, 2021?
- How could you determine the amount of profit that Dick’s Sporting Goods, Inc. earns when selling its merchandise inventory? What is this amount for the fiscal year ending January 29, 2022? Provide the calculation for gross profit.