Abercrombie & Fitch Inc. (ticker ANF) is a very famous retailer of clothing and related accessories. Access Abercrombie & Fitch Company's most recent Annual Report by following these steps: go to www.sec.gov and click on the “Search for Company Filings” under “Filings and Forms (EDGAR)”. Next screen under “General Purpose Searches” click on “Companies and Other Filers” . Next screen key in “Abercrombie & Fitch Co” (don't include the quotes) in the Company Name box. Next screen click on the second company listed. Next screen key in “10-K” (do not use quotes) in the “Form Type” box on the right of the page and click “Retrieve Filings.” Click on “html” format to view Abercrombie & Fitch Annual Report for the fiscal year ended January 28, 2005 . On the next screen, click on the first filing under Document to view most recent 10-K form that the company filed with the SEC.

1. Describe the Abercrombie & Fitch markets.

2. What inventory method does Abercrombie & Fitch Inc. use? ( Hint : See the notes to the financial statements)

3. Compute Abercrombie & Fitch's gross margin and gross margin ratio for the fiscal year ended January 28, 2005.

4. Compute Abercrombie & Fitch's inventory turnover and days' sales in inventory for the fiscal year ended January 28, 2005.