rct-abercrombie & fitch

Part D. Accounting Policies
•Revenue recognition: The Company recognizes retail sales at
the time the customer takes possession of the merchandize .
Direct to customer sales are recorded upon customer receipt
of merchandize.
•Inventories: principally valued at the lower than average cost
or market utilizing the retail method.
•Property and equipment: are computed on a straight line
basis, using service lives.
•Income taxes: are calculated in accordance with SFAS No.
109 “Accounting for income taxes” which requires the use of
asset and liability method.
Abercrombie & Fitch