Accumulated Inventory definition

Accumulated Inventory means the value of Inventories. For the purposes of determining the value of Inventories under this definition, (i) Inventories consisting of components will be stated at an amount equivalent to their average historical purchase price and (ii) Inventories consisting of finished products or works-in-progress shall be valued at an amount equivalent to the average cost of the components kited or released to that particular job, plus direct labor and other direct charges, plus labor and material overhead costs that were applied to those jobs, less (x) previously applied costs of sales, (y) reserves for obsolete or slow-moving inventory, if any, and (z) projected cost overruns. Overhead costs are calculated as follows: (i) labor overhead equals the cost of direct labor multiplied by 200% and (ii) material overhead equals the cost of materials related to a particular job multiplied by 15%. Non-recurring engineering costs relating to the Rockwell Aero I Project 228285 of approximately $520,000 will be excluded from both the January 2001 Statement of Accumulated Inventory and the Statement of Inventory.
View Source
Accumulated Inventory means the value of Inventories. For the purposes of determining the value of Inventories under this definition,
View Source

Examples of Accumulated Inventory in a sentence

  • If any such resolution by the Purchaser's Accountants and the Seller's Accountants leaves in dispute amounts the net effect of which in the aggregate would not affect the amount of Accumulated Inventory reflected on the Statement of Accumulated Inventory by more than the Designated Amount, all such amounts remaining in dispute shall then be deemed to have been resolved in favor of the Statement of Accumulated Inventory delivered by the Seller to the Purchaser.

  • The Inventory of the Business the value of which is reflected on the January 2001 Statement of Accumulated Inventory, (i) is of merchantable quality, usable and salable at normal profit margins for the Business and in accordance with the Seller's historical sales practices in the ordinary course of business, and (ii) does not include any items that are obsolete, damaged, excessive, below standard quality, slow moving or for discontinued product lines.

  • Receivable 16,000.00 ------------ 1,365,513.00 Great & Partners Limited Partnership Financial Statement Depreciation Schedule Straight line method - Half year convention Dep Exp 1993 1994 1995 1996 Depr Accumulated Inventory Asset User Acq.