Question
Clinton Company makes specialty cases for smart phones and other handheld devices. The company has experienced strong growth, and you are especially interested in how
Clinton Company makes specialty cases for smart phones and other handheld devices. The company has experienced strong growth, and you are especially interested in how well Clinton is managing its inventory balances. You have collected the following information for the current year.
Inventory at the beginning of the year: $ 1,555 million
Inventory at the end of the year, before any adjustments $ 1,267 million
Total cost of goods sold, before any adjustments $ 17,844 million
The company values inventory at lower-of-cost (usng LIFO cost flow assumption) -or-market.
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