Trex adopts Link Chain LIFO accounting
Winchester, Va.-based Trex Co, announced a change in its accounting for inventories from a specific goods last in, first out (LIFO) approach to a Link Chain LIFO method.
The new method is preferable for several reasons, according to Trex:
• It is based on a single inventory pool, instead of more than 30 LIFO pools under the prior method, simplifying the LIFO calculation;
• It provides better matching of sales and expenses by creating fewer LIFO liquidations; and
• It aligns the Company’s inventory costing method with prevalent inventory practice.
The change to the Link Chain LIFO method is effective during the 2010 fourth quarter and affected periods subsequent to December 31, 2006.
Trex is a leading manufacturer of wood-alternative decking.
GAF expands Lifetime Designer line
GAF Materials Corp. has expanded its Lifetime Designer Shingles Value Collection
The Wayne, N.J.-based manufacturer said the collection offers contractors an opportunity to differentiate their business with an affordable and upscale alternative to standard architectural shingles.
The line features Camelot II, Country Mansion II and Grand Slate II shingles.
Camelot II shingles were introduced as Camelot 30 in July last year. The new concept offers dimensional appeal, striking color blends and durable construction, according to the company. It added that demand for that product led to the extension of the concept to GAF’s Country Mansion and Grand Slate shingle styles.
“Based on the success of our Camelot II shingles, we anticipate a strong demand for the other styles in the collection,” said Emily Cavanagh, director of market and product development at GAF.
California home builder has big plans
A residential builder based in Southern California has gone on a buying spree in California, closing 13 land deals that represent 1,300 housing units, according to an article in the San Diego Union.
City Ventures, which is based in Santa Ana, Calif., told the newspaper that the latest acquisitions are part of an 18-month plan to strengthen the company’s presence in "California’s rapidly recovering housing economy."
A spokesman for the company, which has several active building projects in San Diego, said the firm is less than two years old, adding: "We don’t suffer from legacy loans or legacy projects.”