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Answer the following questions regarding the following company by examining the summary of significant policies:...

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Accounting

Answer the following questions regarding the following company by examining the summary of significant policies:

https://www.sec.gov/cgi-bin/viewer?action=view&cik=86144&accession_number=0000086144-15-000004&xbrl_type=v#

Required:

1. What types of inventory does the company have?

2. For each type of inventory, what method does the company use for evaluating the inventory?

3. If the company had used FIFO or FIFO approximation for all inventory, estimate what the beginning and ending inventory balances for the fiscal years reported, would have been if the company had used FIFO for all of its inventories.

4. Estimate the effect on cost of goods sold (that is, would it have been greater or less and by how much?) for the most recent fiscal year if the company had used FIFO for all of its inventories.

5. Would income from continuing operations, before taxes, have been materially different if the company had used inventory methods that approximated FIFO for all inventory? Express your answer as a percentage.

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