The 2008 annual report of The New York Times Company includes the following note:
6. Inventories
Inventories as shown in the accompanying Consolidated Balance Sheets were as follows:

Required
1. What types of inventory costs does The New York Times Company carry? What about newspapers? Are newspapers considered inventory?
2. Why would the company choose more than one method to value its inventory?

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December 28, December 30, (In thousands) Newsprint and magazine paper Other inventory Total 2008 $19,565 $24,830 2007 $21,929 $26,895 4,966