A company’s annual report usually will identify the inventory method used. You can analyze the effects of the inventory method if you have the income statement and balance sheet of a company. Go to the Cisco website.
In 1-2 page report, address the following questions based on the current year’s Annual Report on Cisco’s website:
At Cisco’s fiscal year-end, what was the net inventory on the balance sheet?
How has this changed from the previous fiscal year-end?
How much of the inventory was finished goods?
What inventory method does Cisco use?
Is inventory considered a current or non current asset?
What is obsolescence? Should all companies report the amount of obsolete inventory on-hand? Why or why not?
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