A company"s annual report usually will identify the inventory method used. Knowing that, you can analyze the effects of the inventory method on the income statement and balance sheet.
Answer the following questions based on the current year"s annual report on Cisco"s website.
(a) At Cisco"s fiscal year-end, what was the inventory on the balance sheet?
(b) How has this changed from the previous fiscal year-end?
(c) How much of the inventory was finished goods?
(d) What inventory method does Cisco use?