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Date
Rule
802.1
Staff
M. Verne
Response/Comments
Advised that inventory cannot be exempted by 802.1 if it is being acquired as part of an operating unit.

Question

From

Sent: Thursday, September 04, 2003 11:28 AM

To- Verve, Michael

Subject: 802.1 question

Hi, Mike

I wanted to check with you on the interpretation of 802.1. Suppose that A is going to acquire from B a grocery store (as in example 1) and the store has a large current inventory of grocery products to be sold. I understand that the store would be an "operating unit," but I am wondering if you use 8002.1(c)(1) to back out the value of the groceries that are in the store's inventory.

I'd appreciate your thoughts.

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