Business Finance Homework Help

Answers must be in complete sentences and/or paragraphs. Yes, or No is not an acceptable answer. Also, please be sure to carefully cite your sources. It is not acceptable to cut and paste from the Annual report without attribution. Where it is necessary to quote brief citations, you should use quotation marks. You should always reference where you obtained the material, for example: General Motors, 2006 Annual Report page 63.

1. In the summary of significant accounting policies, what method does the company use to value inventory?

2. For the most recent year, what is the amount of inventory in the balance sheet? What does this amount represent?

3. The company refers to its cost of goods sold using a different name. What is it?

4. For the most recent year, what is the amount of cost of goods sold in the income statement? What does this amount represent?

5. Calculate inventory turnover ratio and average days in inventory for the most recent year. Does it seem reasonable for this company? Explain why or why not.

6. The summary of significant accounting policies is located in the notes of the financial statements. Locate the section on property and equipment. What depreciation method is used? What are the estimated useful lives of the assets?

7. Property and equipment section is located in the notes of the financial statements. What is the cost of property and equipment? What is the trend in property and equipment for the past two years?

8. Find the note entitled commitments. What is the most common term for the leases? What are the future minimum rental commitments under operating leases?

https://www.sec.gov/ix?doc=/Archives/edgar/data/10… 10-K Annual report for Walmart