Answer all of the following questions about your company: COLGATE PALMOLIVE CO

Describe the types of inventory held by the company. Does the company indicate its inventory management goals anywhere in its annual report?

Describe the inventory costing method that is used. Why do you think the company chose this method rather than the other acceptable methods? Do you think its inventory costs are rising or falling?

Calculate the inventory turnover ratio for the current and prior years, and explain any change between the two years. (To obtain the beginning inventory number for the prior year, you will need the prior years annual report.)

1. Search the 10-K for information about the companys approach for applying the LCM/NRV rule to inventory. Did the company report the amount of inventory written down during the year?

need the prior years annual report.) Search the 10-K for information about the companys approach for applying the LCM/NRV rule to inventory. Did the company report the amount of inventory written down during the year?