This case is used at the Darden School of Business in the inventory module of the "Financial Reporting" course elective, but it would also work well at the advanced undergraduate level. Through five phases, students first become familiar with core terminology and concepts before examining various situations?from what to make of an annual report footnote disclosure and balancing the pros and cons of using LIFO versus FIFO cost flow assumption to examining misreported inventory and inventory write-downs.