Using the most recent annual report of the company you have chosen to study and that you have accessed online at the company's website, examine inventory(ies) on the balance sheet and accompanying note on inventory(ies) of your company. Answer the following questions:
1. What percentage is inventory(ies) to total current assets? Do you think this percent- age represents the importance of inventory(ies) to the company's operations?
2. Find the note about inventory(ies) in the notes to the financial statements. Does the company have more than one type of inventory? If so, what are they? What method(s) are used to value inventory(ies)? What other facts, if any, are disclosed about inventory(ies) in the note?
3. Calculate inventory turnover and days' inventory on hand for the most recent two years. (Round to one decimal place.) Has the com- pany improved its performance in these areas over the past two years?