Chapter 2 - Conceptual Framework for Financial Reporting - Review and Practice - Using Your Judgment - Comparative Analysis Case - Page 72: c

At Coca-Cola, inventories comprise complete commodities and raw materials. Raw materials include supplies and primary ingredients. Finished goods comprise syrups and concentrates. To value inventory, Coca-Cola compares its market and cost values and uses the lower of the two. The cost of the inventories is determined using two major methods: either FIFO methodology or average cost.

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