Obtain Moet Hennessy Louis Vuitton’s 2017 annual report using the “Investor Relations” portion of its website (do a web search for Moet Hennessy – Louis Vuitton investor relations).

Required:
1. Describe the inventory of LVMH.
2. How does LVMH value its inventory other than wines? Why doesn’t LVMH use LIFO?
3. How does LVMH value its wine inventory? What is the justification for this valuation?
4. Did LVMH record any inventory write downs during the year? If so, what was the dollar amount and can any conclusions be drawn from the pattern or write-downs.