Financial Statement Analysis
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Find a recent annual report for a company on the Internet that is a merchandising or manufacturing company that reports Inventory on the balance sheet. Include the name of the company, a brief summary of the services and/or products this company provides, the date of the annual report you accessed and the website address for the annual report. Also, indicate if the company is a manufacturing or merchandising company.
How are inventory and the cost of merchandise sold presented on the financial statements?
What is the amount of inventory reported on the balance sheet?
What is the percentage of inventory to current assets reported on the balance sheet?
Provide a brief explanation of the accounts that appear on the income statement.
Per the notes to the financial statements, identify the cost flow method(s) used to value inventory.
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Solution Summary
The solution answers the following questions after evaluating a public company
How are inventory and the cost of merchandise sold presented on the financial statements?
What is the amount of inventory reported on the balance sheet?
What is the percentage of inventory to current assets reported on the balance sheet?
Provide a brief explanation of the accounts that appear on the income statement.
Per the notes to the financial statements, identify the cost flow method(s) used to value inventory.
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I hope you are doing well. Please find my answer below. I have done my best to answer your question to the best of my ability. I hope you find the response excellent. Please let me know if you have any other questions or comments. Thanks and good luck.
The company I chose is Precision CastParts Corporation. Precision Castparts Corporation (PCC) is a worldwide manufacturer of complex metal components and products, investment castings, forgings and fasteners/fastener systems for aerospace and industrial gas turbine applications. It also provides investment castings and forgings for general industrial, automotive, armament, medical and other applications. Headquartered in Portland, Oregon, PCC primarily operates in the US. However, it sells to and sources from companies worldwide and has several international facilities. It employs 16,000 people and operates in 22 states and 16 countries spanning three business segments - Investment Cast Products, Forged Products and Fastener Products. Web Site: http://www.precast.com/PCC/SEC_Filings.asp. Date of Annual Reports: May 31, 2007
How are inventory and the cost of merchandise sold presented on the financial statements?
Inventory is presented under current assets on the balance sheet while the cost of merchandize sold is presented under income statement.
What is the amount of inventory reported on the balance sheet?
876.2 million as of April 1, 2007
What is the percentage ...
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