The case is primarily set for the Darden School of Business to use in the inventory module of the “Financial Reporting” course elective, but it might be used at the advanced undergraduate level. After going through the five steps, it enhanced the understanding of students about basic concepts and terminology before evaluating the different scenarios-from how to utilize an annual report footnote disclosure and to examine the misreported inventory and inventory write-downs by balancing the pros and cons of using LIFO versus FIFO cost flow assumption.
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