LETTER OF INTENT Definition

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LETTER OF INTENT (LOI) is a document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.

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IMPUTED VALUE is the logical or implicit value that is not recorded in any accounts, e.g., in the projection of annual figures, values are imputed for months for which the actual values are not yet known.

LIFO RESERVE is the difference between the ending inventory under LIFO and FIFO (or other method that might be chosen).

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