Assignment: Public Company
Choose a US public company that sells inventory (everyone needs to pick a different company). Review their most recent Annual Report.
Task
i. What inventory costing method does the company use? Explain why you think the company uses this particular method?
ii. What might happen to the company's income and inventory balance if they chose an alternative costing method? Be specific in your example.
iii. Does the company value their inventory at lower of cost or market (LCM)? If so, how does the company define market? What factors might it consider in deciding whether or not to write down its inventory?
iv. If the company does not use LCM, what method does the company use to value its inventory in consideration of possible inventory write-downs?
Format your assignment according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.