FINANCIAL AND MANAGERIAL ACCOUNTING - Fifth Edition Financial Statement Case 6-1 Requirements 1. Which inventory costing method does Starbucks use? How does Starbucks value its inventories? See Note 1. 2. By using the cost of goods sold formula, you can compute net purchases, which are not reported in the Starbucks statements. How much were Starbucks\" inventory purchases during the year ended September 29, 2013'? 3. Determine Starbucks' inventory turnover and days' sales in inventory for the years ended September 29, 2013. (Round each ratio to one decimal place.) How do Starbucks\" inventory turnover and days' sales in inventory compare with Green Mountain Coffee Roasters, Inc. for the year ended September 28, 2013'? Explain