Accounting Homework

Choose any publicly-traded company and research it's financial statements.  Make sure you check the balance sheet(s) for the company you selected to see if they carry inventory.  If not, select another company.  Review the financial statements of the company including the footnotes and discuss with the class what inventory cost flow method do they use?  Discuss if they state inventory at the lower of cost or market.  Also discuss with the class why, in your opinion, should they choose the particular cost flow method that they did.

As a reminder, the cost flow methods most commonly selected are Specific Identification, Moving of Weighted Average, FIFO, and LIFO.