As a team, select an industry to analyze and select a company that interests you. Find its annual report online. Answer the following questions about the company you chose:

Required
1. Refer to the annual report and discuss how Cost of Goods sold is calculated.
2. Refer to the annual report and discuss how Inventory is valued.
3. Refer to the annual report and discuss how the value of inventory is calculated if it is purchased from a third-party vendor (if applicable).