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Refer to the financial statements and the Notes to the financial statements for the company you have selected to respond to the following questions Include
Refer to the financial statements and the Notes to the financial statements for the company you have selected to respond to the following questions Include the url to access the 10K that you are using (and test it to be sure that the link works). a) Is your company a merchandising company or a manufacturing company? How many categories of inventory are presented on the balance sheet or disclosed in the notes? b) Does the company use the same inventory cost flow assumption (LIFO, FIFO, average) for all of its inventory? c) Does the company report on the balance sheet that inventories are valued at lower of cost or market or lower of cost or net realizable value-or is it disclosed in the notes? d) Does the company estimate ending inventory using Retail Inventory method-or some other GAAP inventory costing method? e) Compute the company's inventory turnover. The formula is shown below; show the amounts used. Is their inventory turnover good or not? How do you know? Inventory turnover = cost of goods sold / average inventory Refer to the financial statements and the Notes to the financial statements for the company you have selected to respond to the following questions Include the url to access the 10K that you are using (and test it to be sure that the link works). a) Is your company a merchandising company or a manufacturing company? How many categories of inventory are presented on the balance sheet or disclosed in the notes? b) Does the company use the same inventory cost flow assumption (LIFO, FIFO, average) for all of its inventory? c) Does the company report on the balance sheet that inventories are valued at lower of cost or market or lower of cost or net realizable value-or is it disclosed in the notes? d) Does the company estimate ending inventory using Retail Inventory method-or some other GAAP inventory costing method? e) Compute the company's inventory turnover. The formula is shown below; show the amounts used. Is their inventory turnover good or not? How do you know? Inventory turnover = cost of goods sold / average inventory
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