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Case Study about the Inventory of Eastman Kodak Company and Canon Inc
-After reviewing the financial statements and footnotes in the 10-K, discuss what inventory costing method both companies use (e.g. FIFO, LIFO, etc.) If there is a difference between the main company and the competitor, discuss how this difference may affect comparisons of inventory and cost of goods sold figures. -Using the information from the financial statements for each company, calculate the inventory turnover ratio and discuss how the ratios compare and what this may mean for each company. -Using the information from the financial statements for each company, calculate the �day�s sales in inventory� ratio and discuss how the ratios compare and what this may mean for each company. -Do either of the companies show any adjustments related to lower of cost or market? Explain why a company may report a lower of cost or market adjustment.