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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Analyzing Moet Hennessy Louis Vuitton’s (LVMH) Inventory Disclosures

Obtain Moet Hennessy Louis Vuitton’s 2017 annual report using the “Investor Relations” portion of its website (do a web search for Moet Hennessy – Louis Vuitton investor relations).

Required:

  1. 1. Describe the inventory of LVMH.
  2. 2. How does LVMH value its inventory other than wines? Why doesn’t LVMH use LIFO?
  3. 3. How does LVMH value its wine inventory? What is the justification for this valuation?
  4. 4. Did LVMH record any inventory write-downs during the year? If so, what was the dollar amount and can any conclusions be drawn from the pattern or write-downs.

1.

To determine

Explain the inventory of L Company

Explanation

From the “Investor Relations” of the L Company’s website, following facts are revealed:

Being a diversified company, Company L has a variety of inventories from alcohol to retail products...

2.

To determine

Explain how L Company values its inventory other than wines and explain the reason for not using LIFO method.

3.

To determine

Explain how L Company values its wine inventory and explain the reason for this valuation.

4.

To determine

Explain whether L Company records any inventory write-down during the year and show the dollar amount.

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