Kimberly Clark Corporation and Procter Gamble Company

reported the #3066

Kimberly- Clark Corporation and Procter & Gamble Company reported the information below
about inventory in their financial statements and footnotes. Use this information to answer the
following questions: a. What cost- flow assumption(s) does Kimberly- Clark use? b. What is
Kimberly- Clark’s LIFO reserve at the end of 2011, 2012, and 2013? c. If Kimberly- Clark used
the FIFO cost- flow assumption to account for all of its inventory, what would its balance of
ending inventory be in 2011, 2012, and 2013? d. What would Kimberly- Clark’s cost of goods
under FIFO have been in 2012 and 2013? e. Would Kimberly- Clark’s gross profit, taxes, and
net income have been higher or lower under FIFO in 2012 and 2013? f. Compare Kimberly-
Clark’s gross profit percentage, inventory turnover ratio, and days in inventory on hand under
LIFO versus FIFO for 2012 and 2013.g. What cost- flow assumption(s) does Procter & Gamble
use? h. For fiscal 2013, compare Procter & Gamble’s inventory turnover ratio and days in
inventory on hand to those of Kimberly- Clark under FIFO from part f.
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Kimberly Clark Corporation and Procter Gamble Company reported the

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