@DarkJester, Yes, you can. Since you do not have any artisan tools you will be considered to be using improvised tools, which grants a -2 penalty on the check. The Craft rules are a little convoluted, so I'll try to make sense of it and apply it to this situation.
The DC to create Arrows (20) is
| Simple item with no moving parts or complex pieces |
DC 10. At the beginning of the week (but after you've gathered the materials), you make a Craft check. The result of that check is multiplied by the DC. If the sum of
that is greater than the cost of the
| 1 gp. But Iron Heroes breaks it down into silver pieces, so it's actually 10sp. |
items being built, than at the end of the week you can create Arrows (20). So, in essence, if you roll at least a total of
| Due to the -2 for improvised tools |
4 then you can craft the arrows.
Note: I am going to say that if you cannot find the appropriate materials, you will suffer some sort of penalty to use them (-1 to attack for improper wood, -1 damage for improper arrowhead, etc...).