Purpose: To use annual financial report filings to learn about how a company accounts for its inventory.

Select any publicly traded company not discussed in this chapter and go to its Website. Find the section on investor information and download its latest annual report (you may download its \(10 \mathrm{~K}\) report rather than the annual report).

Required Using this report, answer the following questions.

a. What is the name of the company you chose and what is the primary industry that it operates in?

b. Does the company list inventory on its balance sheet? If so, where on the balance sheet does it appear?

c. Does the company have a separate note in the notes to the financial statements that provides a more detailed breakdown of the amount of inventory listed? If so, what is that breakdown?

d. What inventory method does the company use?

e. Calculate the inventory turnover ratio and days' sales in inventory for the most current year shown.