Choose a merchandising company (whose annual report is readily available) and look for their inventory cost flow method. The information may be available on the face of the Balance Sheet, but it will definitely be in the Notes to the Financial Statements (usually in Note #1 regarding Inventory).

For a complete response, please provide:

1. The company you chose and the date of the Balance Sheet (and the hyperlink to the statements you used)

2. The inventory cost flow method adopted by the company, (look in Note 1 in the Notes to Financial Statements)

3. The total dollar amount of inventory on the Balance Sheet (look in the Current Asset section).

4. Comment briefly on one other student's findings - maybe in reference to your company, or the industry they are in, or something unusual. Make sure your comment has some substance in relation to the financial report.

FYI...Remember to ALWAYS list the date of the financial statement you are using and the dollar reference. (7 points)