Question

Refer to the financial statements and related notes of the Coca-Cola Company in Appendix A of this book.

Required
1. Which inventory method(s) does the company use? Explain why you think the company selected this method(s).
2. Compute the inventory turnover ratio for 2004 and 2003 using the ending inventory instead of the average inventory. What is your evaluation of the difference?
3. Recreate summary journal entries to record the transactions that affected inventory during 2004.



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  • CreatedMarch 10, 2012
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