Required to choose a suitable company with sufficient disclosures and write a business
research report to address the following two questions.
By reference to the annual report of your selected company, you are required to address the
following two aspects in the business report:
(1) Review the inventory disclosure of your selected company which may include:
-Inventory system (perpetual or periodic);
-Cost assumption (FIFO, LIFO or average cost);
-the impact of cost assumption to the statement of profit and loss and
-Evaluation of inventory, etc.
(2) Discuss factors that accountants should consider when setting up accounting policy relating to inventory for the entities they work for?
May choose the company from:
http://www.marketindex.com.au/asx200.