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4. LIFO vs. FIFO Download annual reports of Walmart and Tesco (A leading retailer in the UK that is following IFRS) for fiscal year 2014.

4. LIFO vs. FIFO Download annual reports of Walmart and Tesco (A leading retailer in the UK that is following IFRS) for fiscal year 2014. Answer the following questions: 1) What inventory cost method does each of them use? 2) Calculate inventory turnover ratio for each firm. 3) Discuss the implication of inventory turnover ratio in financial analysis 4) What factors may contribute to the difference between the two firms inventory turnover ratio?

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