Review the 2022 Oshkosh annual report and briefly answer the following questions.

Oshkosh (OSK) designs, manufactures, and markets specialty vehicles and vehicle bodies. Oshkosh operates across four main segments: Access Equipment, Defense, Fire & Emergency, and Commercial. The company is headquarters in Oshkosh, WI and went public in 1985.

1. What are examples of specialty vehicles across the four product lines?

2. What type of inventory does Oshkosh hold and what is the value of inventory reported on the Balance Sheet in 2022?

3. What accounting method does Oshkosh use for their inventory? What reasons do they provide on why that method was selected?

4. Calculate the inventory turnover ratio, gross profit margin, and effective tax rate under FIFO and LIFO for 2022. Describe what changed and how you would interpret the change.

5. What other factors may influence Oshkoshs inventory accounting method choice?