...Summary of facts Three Little Pigs, Inc. (PIGS), is a vertically-integrated provider of pork products that produces approximately 4.1 million hogs per year. The company mainly deals with wholesale and retail food service and institutional markets in the United States, as well as outside third parties. PIGS classify their hog inventory into three major categories: live hogs ready for sale, developing animals, and processed pork products. Management believes that there is no lower cost of market issue related to the hogs that are processed within their own company. Unfortunately the hogs that are sold to the third party spot markets have experienced a decline in their market price and in some months it isn’t enough to cover the carrying cost. However management also thinks that in the long run revenue will exceed total cost and there may not need to be a temporary impairment to inventory. Even though the price is varying from month to month their expecting that the revenue will cover all the cost of the inventory and the hogs sold to third parties. * How should the company determine whether inventory impairment exists at September 30, 2002? More specifically, how should management evaluate impairment? Instead of evaluating for impairment under the lower of cost or market method on a total inventory basis, PIGS should focus on trying to give a complete and clear representation of the company. This may be best done by determining whether inventory impairment exist at September...
Words: 958 - Pages: 4
...Case 04-4 Three Little Pigs, Inc. Research Response Three Little Pigs, Inc. (PIGS) is a provider of live hogs and pork products. They classify inventory into three distinct categories: live hogs ready for sale, developing animals, and processed pork products. They have always evaluated inventory at cost because the wholesale price has always exceeded the cost of bringing the products to the market. Now, due to several factors, PIGS believes that they may have a lower of cost or market issue related to valuing some of the hogs. 1) Does PIGS need to write-down inventory? 2) What approach should be used for the write-down (by category, total, end category, etc.)? Does PIGS need to write-down inventory? PIGS has evidence that predicted futures prices for the months of October 2002 – January 2003 will fall below the cost of production for a hog. Where there is evidence that the utility of goods will be less than cost the difference is recognized in the current period (ASC 330-10-35-1). A write-down is generally required unless the decline is due to seasonal price fluctuations (ASC 330-10-55-2). Though, Farmer Joe believes this is just a seasonal fluctuation, there is not enough evidence in the case to support that claim. There are no examples of this happening in prior years. The one reason that is given for the price decrease is the capture of the Big Bad Wolf, which led to an increase in the supply of pork. This appears to be an unusual event that would not happen...
Words: 746 - Pages: 3
...Summary of the Facts Three Little Pigs, Inc. (PIGS) is trying to determine if they should impair their inventory due to a decline in futures prices. Although prices are declining, it is believed that the futures prices will begin to recover within the year. PIGS inventories consists of the following: live hogs to be internally processed, developing animals to be internally processed, internally processed pork products, live hogs to be sold to a third party, and developing animals to be sold to a third party. The question of impairment applies only to the live hogs and developing animals to be sold to a third party because it is believed that internally processed pork products will be able to cover the costs of live hogs and developing animals to be processed internally. Question: How should the Company determine whether an inventory impairment exists at September 30, 2002? More specifically, how should management evaluate impairment? Response: ASC 330-10-35-2 states that, “in accounting for inventories, a loss shall be recognized whenever the utility of goods is impaired by damage, deterioration, obsolescence, changes in price level, or other causes.” In PIGS case they should recognize a loss because the utility of their live hogs to be sold to a third party and their developing animals to be sold to a third party have suffered from a decrease in price level. When determining whether inventory should be evaluated for impairment under the lower of cost...
Words: 700 - Pages: 3
...The Story of The Three Little Pigs Once upon a time, there was a mother pig who had three little baby pigs. The three little pigs grew so big that their mother said to them, "You are too big to live here any longer. You must go and build houses for yourselves. But take care that the wolf does not catch you." The three little pigs set off. "We will take care that the wolf does not catch us," they said. Soon they met a man who was carrying some straw. "Please will you give me some straw?" asked the first little pig. "I want to build a house for myself." "Sure," said the man, and he gave the first little pig some straw. The first little pig built himself a house out of it. He was very pleased with his house. He said, "Now the wolf won't catch me and eat me!" The second little pig and the third little pig went on along the road. Soon they met a man who was carrying some sticks. "Please will you give me some sticks?" asked the second little pig. "I want to build a house for myself." "Sure," said the man, and he gave the second little pig some sticks. Then the second little pig built himself a house of sticks. It was stronger than the house of straw. The second little pig was very pleased with his house. He said, "Now the wolf won't catch me and eat me!" The third little pig walked along the road by himself. Soon he met a man carrying some bricks. "Please will you give me some bricks?" asked the third little pig. "I want to build a house for myself." "Sure," said the man...
Words: 784 - Pages: 4
...Once upon a time in a quiet town, there lived three vertically challenged pigs. The three pigs were ready to move out of their parents’ home, not out of selfishness or teenage rebellion, but to begin a strong, independent life as college students. With their extensive knowledge of engineering, they set out to go make a difference in the world. There was one problem though: they were broke college students in need of a place to stay. The pigs decided to create eco-friendly houses to accommodate to their friendly forest creatures by using only the most natural materials found in the environment. One pig built a house out of straw, the other one built a house out of sticks, and the last one built a house out of dung and soil. Mind you, neither...
Words: 926 - Pages: 4
...Abstract The pigs are always fat, lazy, and happy, whereas the wolves are always intimidating, shrewd, and even reckless. The tyrant in the story of the Three Little Pigs is the wolf, who is unable to be satisfied by his cravings and who must continue in his endless search for meaning. The story seems to portray the wolf as an imposing figure that is unconquerable by the pigs; however, in the end the wit of the third pig does indeed conquer the wolf. The wolf, in a typical role of preying on the weak, is able to blow down the houses of the first two pigs, but the third pig’s business nature and sturdy home hinders the wolf. The cycle is supposed to be a reverse full circle, with the pigs now being at the top of the food chain and in a sense, will retain the revolutionary spirit that had once been contained within the wolf, but was then passed on to the pig. All four of these stories provide their own perceptive insights into the classic tale, and shows how one story can provide four different viewpoints that are each unique and each worthy of expansion into their own universes. The Three Little Pigs This paper studies the different levels of perceived cunning between the wolf and the pig, using several examples to determine each animal’s resourcefulness. The stories of the Three Little Pigs have a single and commonly understood plot and the moral of the tale shows how productiveness and tenacity pay off in the end. The twist in these four stories is that each of the...
Words: 1433 - Pages: 6
...Three Little Pigs: Four Interpretations - An Exercise in Paraphrasing By The Walden University Writing Center Staff This exercise is designed to help you improve your paraphrasing skills. You will also get practice at writing a compare-and-contrast interpretive paper, which will help you with the process used in your doctoral study and other course papers. Three interpretations of the classic tale of the Three Little Pigs appear here, along with a mini-research study about wolves and pigs. To help you improve your writing skills, you can approach these pages in two ways: First, read the assigned questions below. Then read the four short interpretive texts. Next, take some time to write a brief paper in which you answer the questions posed at the beginning. Were you able to summarize easily using your own words? Were you able to write without having the original source open in front of you? Did you include proper in-text citations? Assigned Questions 1. In no more than four paragraphs, summarize the story of the three pigs. (Refer to any of the four interpretations for direct quotes.) 2. Compare and contrast these four interpretations of the story, using direct quotes and paraphrases as appropriate. Try not to be judgmental; use the author's evidence for support. 3. Offer a brief critical analysis of the interpretations. What were the strengths and weaknesses, if any, of each? Three Little Pigs: Four Interpretations Gomez (1999) ...
Words: 1765 - Pages: 8
...The Three Little Pigs Once upon a time, there were three little pigs Oinky, Doinky, and Boinky, who live with their mother at the forest. One day there mother told them “ You’re all enough to be still living with me. Go and build houses for yourselves, just remember there is a big bad wolf out there so be careful and make your houses strong.” “Yes mother” Said the three little pigs “We will be ready for it” Oinky the oldest pig, was so lazy to build a house so he thought of making a house of straw.” Doinky the Second little pig likes to play a lot so he thought of making a house of sticks. Boinky the third little pig was clever enough to know that the big bad wolf is strong so he thought of making a house of bricks. One day, Oinky was outside of his house of his house when the big bad wolf came, Oinky quickly run and locked the door. “Little pig, little pig let me come in.” cried the wolf “No, no by the hair of my chinny chin chin I will not let you in.” Replied the little pig “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted the wolf. The big bad wolf blew away Oinky’s house of straw and Oinky run to Doinky’s house of sticks. The following day the big bad wolf passed by Doinky’s house of sticks and saw the two pigs inside. “Little pigs, little pigs let me come in.” cried the wolf “No, no by the hair of our chinny chin chin we will not let you in.” Replied the two little pigs “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted...
Words: 567 - Pages: 3
...The Three Little Pigs Once upon a time, there were three little pigs Oinky, Doinky, and Boinky, who live with their mother at the forest. One day there mother told them “ You’re all enough to be still living with me. Go and build houses for yourselves, just remember there is a big bad wolf out there so be careful and make your houses strong.” “Yes mother” Said the three little pigs “We will be ready for it” Oinky the oldest pig, was so lazy to build a house so he thought of making a house of straw.” Doinky the Second little pig likes to play a lot so he thought of making a house of sticks. Boinky the third little pig was clever enough to know that the big bad wolf is strong so he thought of making a house of bricks. One day, Oinky was outside of his house of his house when the big bad wolf came, Oinky quickly run and locked the door. “Little pig, little pig let me come in.” cried the wolf “No, no by the hair of my chinny chin chin I will not let you in.” Replied the little pig “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted the wolf. The big bad wolf blew away Oinky’s house of straw and Oinky run to Doinky’s house of sticks. The following day the big bad wolf passed by Doinky’s house of sticks and saw the two pigs inside. “Little pigs, little pigs let me come in.” cried the wolf “No, no by the hair of our chinny chin chin we will not let you in.” Replied the two little pigs “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted...
Words: 567 - Pages: 3
...Three days. That's how long Jecca had to decide if he was going to join the Saints. He didn't want anything to do with the gang culture of Stilwater, he just wanted to live a quiet life somewhere and be halfway respected. Sure on the surface life in a gang looked pretty sweet: do what you wanted, get money, cars, and bitches hanging from your waist. Jecca could build a name for himself and command the respect he wanted. Jecca, loyal Saint. Jecca, resident badass. Jecca, the guy every other guy wanted to be. The thought made him chuckle inwardly. An actual man, seeing him as a paradigm of what men should be? It was thoughts like that that brought him before the church on the third day. There was a crowd gathered listening to some important sounding speech being delivered by Julius. Jecca couldn’t really pay much attention to it, he was in some sort of trance as he walked over to the crowd. It was now or never, either Jecca would become a Saint, or he would just slip away unnoticed to probably die in some shitty way later....
Words: 1743 - Pages: 7
...using this document as a tst to see if this will work. In the future I will post more documents The first little pig built his house out of straw because it was the easiest thing to do. The second little pig built his house out of sticks. This was a little bit stronger than a straw house. The third little pig built his house out of bricks. One night the big bad wolf, who dearly loved to eat fat little piggies, came along and saw the first little pig in his house of straw. He said "Let me in, Let me in, little pig or I'll huff and I'll puff and I'll blow your house in!" "Not by the hair of my chinny chin chin", said the little pig. But of course the wolf did blow the house in and ate the first little pig. The wolf then came to the house of sticks. "Let me in ,Let me in little pig or I'll huff and I'll puff and I'll blow your house in" "Not by the hair of my chinny chin chin", said the little pig. But the wolf blew that house in too, and ate the second little pig. The wolf then came to the house of bricks. " Let me in , let me in" cried the wolf "Or I'll huff and I'll puff till I blow your house in" "Not by the hair of my chinny chin chin" said the pigs. Well, the wolf huffed and puffed but he could not blow down that brick house. But the wolf was a sly old wolf and he climbed up on the roof to look for a way into the brick house. The little pig saw the wolf climb up on the roof and lit a roaring fire in the fireplace and placed on it a large kettle of water...
Words: 516 - Pages: 3
...Three Little Pigs: Four Interpretations - An Exercise in Paraphrasing By The Walden University Writing Center Staff This exercise is designed to help you improve your paraphrasing skills. You'll also get practice at writing a compare-and-contrast interpretive paper, which will help you with the process used in KAMs and other course papers. Three interpretations of the classic tale of the Three Little Pigs appear here, along with a mini-research study about wolves and pigs. To help you improve your writing skills, you can approach these pages in two ways: First, read the assigned questions below. Then read through the four short interpretive texts. Next, take some time to write a brief paper in which you answer the questions posed at the beginning. Were you able to easily summarize using your own words? Were you able to write without having the original source open in front of you? Did you include proper in-text citations? Assigned Questions 1. In no more than four paragraphs, summarize the story of the three pigs. (Refer to either the Higley or Ashliman version for direct quotes.) 2. Compare and contrast these four interpretations of the story, using direct quotes and paraphrases as appropriate. Try not to be judgmental; use the author's evidence for support. 3. Offer a brief critical analysis of the interpretations. What were the strengths and weaknesses, if any, of each? Three Little Pigs: Four Interpretations Gomez (1999) Literature...
Words: 1762 - Pages: 8
...Once upon a time there was an old Sow with three little Pigs, and as she had not enough to keep them, she sent them out to seek their fortune. All three pigs decided to build a house, and set off to the brickworks to buy some bricks. But soon the three little pigs came across a Man carrying a bundle of straw. The first little pig said to himself: “Now I won’t need to walk so far to the brickworks! I’d much rather do less work, and then spend the rest of my afternoon relaxing.” So the first little pig said to the Man carrying straw: “Please, Man, give me that straw to build me a house.” The Man did, and the little Pig quickly built a house with it right where he stood, and then settled down and prepared to have a sleep for the rest of the afternoon. Presently...
Words: 1170 - Pages: 5
...Three Little Pigs: Four Interpretations In these interpretations of the Three Little Pigs, there seems to be some serious thinking outside of the box. My childhood self has been terrorized. The interpretations yield a different outcome for the first two pigs than I remember from years long gone by. I, as a youngster, remember the first two pigs run to their brother’s brick home. The wolf is not killed but runs away with his tail on fire. The three interpretations of the story have the wolf devouring the first two pigs and the third pig kills the wolf. The interpretations have that similarity. The interpretations include the “rife” (DDBA-8005) of the story of the Three Little Pigs. The interpretations also have their views on “tyrants” (DDBA-8005) which the wolf symbolizes. Amdur speaks of the wolf is being the bully that seems to be satisfied by with the kill of the pigs (DDBA-8005). It seems the first two pigs are deemed weak enough to fit the lack of challenge the wolf is accustomed to. Fazio and Ek views the third pig as a “God-fearing” conqueror of the evil wolf (DDBA-8005). The difference is the symbolism of the wolf and the pigs. Gomez symbolizes the story to represent the working class and society. He also deems the third pig could be “the next despot” (DDBA-8005). Amdur’s symbolism seems to be viewed from a criminal drama television show perspective. Fazio and Ek relates to the story from a religious perspective. The research study justifies the action...
Words: 386 - Pages: 2
...You are here: Home / Transmedia Storytelling / Case Study Example: The Three Little Pigs Case Study Example: The Three Little Pigs If the Three Little Pigs were told as a transmedia story it might be designed like this: The basic story would be told in an anchoring medium, such as a novel, TV show, or film. The wolf has a companion website would give us opportunities to learn more him, the path that led the wolf to his current antisocial tendencies, and give us a glimpse of his inner genius, such as showing his mathematical schematics of the impact of wind velocity on the materials of straw, sticks and bricks. We would also be able to find maps of the turnip field, apple tree, local market and County Fair and strategic attack positions. We would follow the wolf as he plots and adjusts his plans at each volley by the pigs. On a Ning network, Wolf supporters form Team Wolf and contribute strategy, information, additional maps, and alternate endings and plot developments. On a blog, the first little pig details the family history, his paranoid suspicions of a dark figure lurking about his house that led to the pigs decision to live apart rather than together. An Anime comic takes fans on the first little pig’s visions of a pig super hero saving the world and avenging evil as personified by wolves. The second little pig Tweets his chronicle, seeking advice on sustainable building materials and the relative merits of straw and sticks from other Twitterers, and relaying breaking...
Words: 831 - Pages: 4
