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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 696 |
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During this contract Lowe's will account for the transfer of these receivables to GE as sales.
In a merchandise company such as Lowe's, inventories make up the majority of a company's assets. Lowe's "inventory is stated at the lower of cost or market using the first-in, first-out method of inventory accounting" (www...
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Lowe's "inventory is stated at the lower of cost or market using the first-in, first-out method of inventory accounting" (www.sec.gov). Lowe's uses the first-in, first-out (FIFO) method of valuing its inventory which assumes that the first item they purchased was the first item they sold. As of February 3, 2006, Lowe's reported $6,635,000,000 in merchandise inventory...
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