Refer to the latest financial report of JB Hi-Fi Limited on its website, www.jbhifi.com.au, and answer the following questions:

Required

1. What inventories are carried by JB Hi-Fi Ltd in the consolidated statement? If only one class of inventories is carried, suggest why any classification used is necessary.

2. Can you identify a product cost in the annual report? If so, what is it?

3. Identify three period costs, and explain why they are period costs even for a retail entity such as JB Hi-Fi Ltd.

4. Can you identify any entities within the group which might carry out some manufacturing operations? If so, give examples.