Use the internet to locate the annual report of a public corporation.

1. Identify the name of the company you have chosen.
2. What is the amount shown in the Inventory Account?
3. The Inventory Account represents what percentage of the total current assets of the company?
4. What is the amount of cost of goods sold listed on the Income Statement?
5. What method was chosen to calculate the cost of goods sold amount?
6. Calculate the Inventory Turnover Ratio and the Average Days in Inventory.
7. What are these ratios indicating about the company?