Problem:

Question 1: What is the campany's revenue recongnition policy? (hint: look in the notes to the financial statements.

Question 2: Assuming that $50 million of cost of sales was due to non inventory purchase expenses (distribution and occupancy cost ), how much inventory did the company buy during the year? (hint use a T-account of the inventory in infer how muchwas purchased .)

Question 3: Calculate seneral administrative , and sellion expenses of sales for the years ended January 31, 2009, and January 31, 2008, By what percent did these expenses increase or decrease from fical year 2007 and 2008? The campany's fiscal year ends on January 31, 2009 (hint: Percentage = [Current Year Amount- Prior Year Amount}/Prior Year Amount )

Question 4: Compute the company's total assets turnover for the year ended January 31, 2009, explain its meaning

Note: Be sure to show how you arrived at your answer.