Go to http://www.nike.com/nikebiz/invest/reports/ar_03/10-K_FINAL.PDF. Review Note 2 in the notes to accompany Nike's 2003 annual report and compute the percentage of raw materials inventory to total inventories on May 31, 2003.

Go to http://www.nike.com/nikebiz/invest/reports/ar_03/10-K_FINAL.PDF. What is the change in finished goods inventory from May 31, 2002, to May 31, 2003, as shown in the notes (Note 2) that accompany Nike's 2003 annual report?

Go to http://www.merck.com/finance/annualreport/ar2002/financials_pdf_frameset.html. What percentage of Merck's sales and equity income was expended on raw materials and production cost.

Go to http://www.yamaha.co.jp/english/ir/annual/index.html and choose Yamaha's 2003 annual report. Read management's discussion of financial position on page 25. What happened to inventories during 2003?