Prepare a two-to-three-page double-spaced report addressing items covered in Nike's 10-K. Your report should cover the following:
• Argue if Nike, Inc. addresses inventory reserves. If so, what is their policy related to this? Do you agree with this? Why?
• Determine if Nike, Inc. uses the retail inventory method and if so, what version do they use? If not, explain why.
• Describe what is included in Property, Plant, and Equipment. Are there any special rules related to valuation of this group of assets?
• Distinguish which asset under Property, Plant, and Equipment makes up the largest portion of the balance. Distinguish which asset makes up the smallest portion of the balance.
• Analyze if there should be more detail on the face of the Balance Sheet on the Property, Plant, and Equipment account such as showing the different asset accounts. Give an example of what the value is of doing this.
• Evaluate if there any gains or losses included in the income statement balance. If so, what are the details? If not, why do you think they are not included?