What cost flow assumption does the company use to value inventory other than wine?
The financial statements of Louis Vuitton are presented in Appendix F. The complete annual
report, including the notes to its financial statements, is available at the company’s website.
Instructions
Using the notes to the company’s financial statements, answer the following questions.
a. What cost flow assumption does the company use to value inventory other than wine?
b. What amount of goods purchased for retail and finished products did the company report at December 31, 2015?