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Does anybody know if Apple uses LIFO or FIFO inventory value?

Does anybody know if Apple uses direct or indirect method in their Statement of Cash Flows?

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[quote name='mswarts' date='Apr 28 2005, 12:43']Does anybody know if Apple uses LIFO or FIFO inventory value?

Does anybody know if Apple uses direct or indirect method in their Statement of Cash Flows?
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[/quote]

Should say in the 10-K. They are required to disclose both of these.

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Posted

Where in the 10-K?

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[quote name='mswarts' date='Apr 28 2005, 12:46']Where in the 10-K?
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Hang on, I'm looking it up......now you got me curious.

[url="http://edgarscan.pwcglobal.com/servlets/getCompanyDetail?Name=APPLE+COMPUTER+INC"]http://edgarscan.pwcglobal.com/servlets/ge...LE+COMPUTER+INC[/url]

[quote]Inventories are stated at the lower of cost (first-in, first-out) or market. If the cost of the inventories exceeds their market value, provisions are made currently for the difference between the cost and the market value.
[/quote]

So that's question 1. FIFO.

The second one is trickier:

[quote]The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. For most of the Company's product sales, these criteria are met at the time the product is shipped. [/quote]

So it seems like it is direct, but there is a heavy indirect component, since they are doing alot of short term investment and currency hedging.

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