560 Chapter 10 3. Sell the cars to a used car lot at a much reduced price, likely around 40% below sticker. 4. Put the cars up for auction. KR has nottried this before and has no history of how the cars might sell There is ome limited evidence that indicates that excited buyers might buy the car for sticker price. The current selling costs are $500 per car and KR uses a 15% profit margin in its LCM computations. KR paid $23,000 per car for the Kaminators that are on the lot.The replacement cost of these cars is S20,000 per car. What is the most appropriate write-down amount, if any, for the Kaminators? outline your thought process as well as the judgment s) you made in reaching this conclusion Financial Statement Analyses Cases Case 1: LIFO to FIED Conversion and Comparison between Compa Kimberly-Clark Corporation and Procter e Gamble Company reported the information below about inven tory in their financial statements and footnotes. Use this information to answer the following questions: a. What cost-flow assumption (s) does Kimberly-Clark use b. What is Kimberly-Clark's LIFO reserve at the end of 20 2012, and 2013 c. If Kimberly-Clark used the FIFO cost-flow a unt for all of its nventory, what would umption to acco its balance of ending inventory be in 20 2012, and 2013 d. What would Kimberly-Clark's cost of good under FIFO have been in 2012 and 2013 Would Kimberly-Clark's gross profit, taxes, and net ncome have been higher or ower under FIFO in 2012 and 2013? Compare Kimberly Clark's gross profit percentage, inventory turnover ratio, and days in inventory on hand under LIFO versus FIFO for 2012 and 2013 g. What cost-flow assumption(s) does Procter Gamble use? h. For fiscal 2013, compare Procter e Gamble's inventoryturnover ratio and days in nventory on hand to those of Kimberly-Clark under FIFO from part f Kimberly-Clark Corporation Excerpt from 2013 Annual Report, Kimberly-Clark Corporation KIMBERLY CLARK CORPORATION AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT Years Ended December 31 Millions of dollars 2013 2012 201 Net Sales $20,846 $21,152 $21,063 Cost of products sold 3,912 4,314 4,694 Gross Profit 7240 S 6,749 S 6,152 NOTE 1: Accounting Policies (excerpt) Inventories and Distribution Costs Most U.S. inventories are valued at the lower of cost, using the Last n, First-Out ILIFO method, or market. The balance of the U.S. inventories and inventories of consolidated operations outside the U.S are valued at the lower of cost, using either the First-In, First-out IFIFO) or moving-average cost meth- ods, or market. Distribution costs are classified as cost of products sold