Refer to Research In Motions financial statements in Appendix A to answer the following. Required 1. What
Question:
Refer to Research In Motion’s financial statements in Appendix A to answer the following.
Required
1. What amount of inventories did Research In Motion report as a current asset on February 27, 2010? On February 28, 2009?
2. Inventories represent what percent of total assets on February 27, 2010? On February 28, 2009?
3. Comment on the relative size of Research In Motion’s inventories compared to its other types of assets.
4. What accounting method did Research In Motion use to compute inventory amounts on its balance sheet?
5. Compute inventory turnover for fiscal year ended February 27, 2010, and days’ sales in inventory as of February 27, 2010.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta