Refer to Research In Motion’s financial statements in Appendix A to answer the following.
1. What amount of inventories did Research In Motion report as a current asset on February 27, 2010? On February 28, 2009?
2. Inventories represent what percent of total assets on February 27, 2010? On February 28, 2009?
3. Comment on the relative size of Research In Motion’s inventories compared to its other types of assets.
4. What accounting method did Research In Motion use to compute inventory amounts on its balance sheet?
5. Compute inventory turnover for fiscal year ended February 27, 2010, and days’ sales in inventory as of February 27, 2010.
6. Access Research In Motion’s financial statements for fiscal years ended after February 27, 2010, from the SEC’s EDGAR database. Answer questions 1 through 5 using the current RIM information and compare results to those prior years.