yse most recent Form 10-K for Snap-on Inc. to complete the requirements below. T

Question

yse most recent Form 10-K for Snap-on Inc. to complete the requirements below. To obtain the Form 10-K, you can search EDGAR system at sec.org (follow the instructions in our text, Appendix A), or search 'Corporate Information" on the company's corporate website at www.snapon.come Read carefully the following portions of the document: Notes to Financial Statements: . Note 1 > Summary of Accounting Policies e "Shipping and handling" "Advertising and promotion" "Note 4: Inventories" Questions 1. What are the main products sold by SnapOn? Be specific. 2. Does Snap-on treat shipping and handling costs as product or period costs (or both? How can you tell? 3. Does Snap-on treat advertising and promotion costs as product or period costs (or both)? How can you tell? 4. What are the three main categories of inventory does Snap-on report in its annual report? 5. After browsing the annual report, comment on two other interesting things that you learned about Snap- On Inc. during your research. Explain why you found these to be particularly interesting Required: . Answer each of the above questions in complete sentences . Be sure to fully cite your sources used for each of your answers in 1-4. IOne source per item. Example "Balance Sheet, Assets section" or "Statement of Cash Flows, Investing Activities section:) . As always, reply to two other students by name.

Explanation / Answer

1.)

Note-18 Financial Segment Data Products and Services.

Snap On's Products include Hand Tools, Power Tools, Tool-Storage, Saws, Cutting and Pruning Tools, Dignostics and Repair Tools etc. It is mentioned in many places through out the 10-K form. Note-18 Financial Segment Data Products and Services.

2.)

Note-1 Accounting Policies

It includes Shipping and Handling Costs related to Manufacturing Activities as Product Costs. You can understand that by the sentence, that it includes these costs in Cost of Goods Sold. And Shipping and Handling costs incurred for Selling and Distribution activities as Period Costs as it includes them in Operating Activities.

3.)

Note-1 Accounting Policies

Advertising and Promotion Expenses are being treated as Period Costs as it includes them in Operating Activities.

4.)

Note-18 Financial Segment Data Products and Services.

The Main Categories of inventory are

Good luck

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