Request assistance for the following 1-2 pagesIn previous two weeks of class we learned the...

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Request assistance for the following 1-2 pages

In previous two weeks of class we learned the differences between accounting for inventory under the FIFO, LIFO, and average costing methods. Additionally, we explored how the income statement impact may differ under each of the three methods.

For this week’s discussion,

Pick a retail company and research which method above the company uses to account for inventory. Note: Please select publicly traded companies, as this will make the information easier to locate. 1-2 pages

David · Accepted Answer

Walgreen Co is a retail publicly traded company in US.  Inventory valuation is- Lower of cost or 
market price, whichever is lower- determination of which is done by following separate method 
for separate segment.   
The costs that are included in the inventory valuation are inbound freight, product costs, 
direct labor, overhead cost, warehousing costs that are related with manufacture & distribution of 
product & vendors allowances which have not been classified & that has not be reduced as 
advertisement expense. 
The method adopted for accounting its inventory for each of its segment’s are -LIFO 
method for USA segment Retail Pharmacy; FIFO (i.e.,

Request assistance for the following 1-2 pages In previous two weeks of class we learned the differences between accounting for inventory under the FIFO, LIFO, and average costing methods....

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