Question: A companys annual report usually will identify the inventory method used. Knowing that, you can analyze the effects of the inventory method on the income

A company’s annual report usually will identify the inventory method used. Knowing that, you can analyze the effects of the inventory method on the income statement and the balance sheet.
Address: www. darden.com
Steps
1. From Darden Restaurants’ homepage, choose Investor Relations.
2. Choose Annual Report & Financials.
3. Choose Annual Report 2006—HTML version.
4. Click on Financial Renew under the Table of Contents.
5. Click on Consolidated Balance Sheets.
Answer the following questions based on the 2006 Annual Report.
(a) At Darden’s fiscal year-end, what was the net inventory on the balance sheet?
(b) How has this changed from the previous fiscal year-end?
(c) What inventory method does Darden Use?

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