JM Smucker Processed & Packaged Goods. Connor Myers. “With a name like Smucker’s , it has to be good”. Background. Founded in 1897 in Orville, Ohio. Full-Time Employees: 4,875 Revenues of 5.72 Billion Dollars in 2013. Comparable Companies (Processed & Packaged Goods). Starbucks (SBUX)
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Since everything is kept under FIFO no inventory adjustment is needed
Adjustments to Income Statement
Beginning Year Price: $73.54
End Year Price: $99.29
Step 1: Compute value of options exercisable at beginning of year using beginning of year share price