Berry Plastics is a manufacturer. Berry has inventory consisting of raw materials, work in process and finished goods totaling $24 million. Is Berry required to report the amounts for each class of inventory or can it just report the total of $24 million? Prepare a memo to me explaining your answer. You must provide Codification references to support your answer or you will receive a You answer should be in the FIRAC format discussed in the video or in class.

Do not be creative here! Facts Issue(s) (typically a question) Review of authoritative literature (ASC) Analysis (link the facts to the authority) Conclude (answer the issue question)