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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Research and Analysis Using the Annual Report

Obtain Wal-Mart’s 2016 annual report either through the "Investor Relations" portion of its website (do a web search for Wal-Mart investor relations) or go to www.sec.gov and click "Company Filings Search" under "Filings."

Required:

What amount did Wal-Mart report for inventories in its consolidated balance sheets at January 31, 2016? At January 31, 2015?

To determine

Introduction:

Inventory is also regarded as the stock of the firm. It is produced by the company with a purchase to sale. The end product of business operations is referred to inventory.

Inventory for W-M as on January 31, for years 2016 and 2015.

Explanation

As per consolidated financial statement of year 2016, W-M had the following balance in the inventory account as on January 31, for years 2016 and 2015.

Particulars Year 2016 ($, in millions) Year 2015 ($, in millions)
Inventory balance $44,469 $45,141

Inventory is the amount of stock that is left unsold at the end of the accounting year...

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