Internet Case 16.3 Calculating Cost of Goods Manufactured (MUST POST FIRST) Initial Post As an employee, write an internal memo to your manager addressing the following: Using the Internet, locate the most recent financial report of any company of your choosing. The company you select to research must be in the business of manufacturing a product. If the required information is not available, then you will need to select a different company. Write an initial post by responding to the following:

1. What categories of inventory does the company show in its inventories footnote under Notes to Consolidated Financial Statements?

2. Using the income statement and inventory information from the footnote, calculate the cost of finished goods manufactured for the most recent year.

3. What elements of manufacturing overhead can you identify using the annual report?