Select a publicly traded company that manufactures and/or sells a product (inventory must be a meaningful asset on the balance sheet). Locate that company’s most recent form 10-K from its website or using the Edgar system at sec.gov. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Find all of the Notes to those financial statements that disclose information about the company’s inventory. Summarize the following regarding the company’s inventory: amount of reported inventory for both periods presented and the composition of the inventory for a manufacturer; method of costing and which types of inventory it applies to; and any changes to the costing method made for the periods covered by the statements. Did the company fully disclose all that it needed to regarding inventory? Provide authoritative support for your conclusion. Do you believe the company has selected the most appropriate costing method for its inventory? Why or why not?
