Access the annual financial statements of Andrew Peller Limited for the year ended March 31, 2012, on SEDAR (, or the company's website
Refer to these financial statements and the accompanying notes to answer the following questions.
(a) How significant are the inventories relative to total current assets? 'What categories of inventory does Andrew Peller Limited report?
(b) Identify all the accounting policies that are the basis for the inventory values reported on the March 31, 2 012 balance sheet.
(c) "Which category of inventory represents the highest percentage? Is this what you would expect?
(d) "What was the amount recognized in expense related to inventory for 2012 and 2011? Were there any writedowns of inventory or reversals of writedowns for 2011 or 2012?
(e) "What was Andrew Peller's inventory turnover ratio for the year ended March 31, 2012? "What is the average age of the inventory? Comment briefly.
(f) Compare the gross profit ratios for the two most recent years that are reported. Comment
briefly on why there might he changes from year to year.
(g) Until2012, the company reported under Canadian GAAP. The company moved to IFRS in fiscal 2012. What was the impact of the move to IFRS on vineyard and grape assets? "What was the impact on the balance sheet? On the income statement?

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