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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (48011)	2/5/2001 4:04:11 PM
From: FESHBACH_DISCIPLE	Respond to of 77400

phoenix of course it does. Call any c.f.o and ask them.

To: The Phoenix who wrote (48011)	2/5/2001 4:55:56 PM
From: Paul Reuben	Respond to of 77400

Egads!! Sagawa's on CNBC.............

To: The Phoenix who wrote (48011)	2/5/2001 10:57:15 PM
From: Stock Farmer	Read Replies (2) \| Respond to of 77400

Gary - would you care to post to the thread the precise definition of "Cost of Goods Sold" that you are using? I thought it was as Monty posted Message 15302491 Which is the same as what FD used, with different words. If that is the case, then your post "COGS does not change based upon changes in inventory levels" is certainly false, and FD's post now and back in November is correct. Summary: if inventory goes up, it has a positive effect on earnings. Corrolary: whether co-incidental or due to financial engineering is immaterial. A company with increased earnings is great... just reduced in greatness by the degree to which inventory goes up. If one looks only at earnings growth without pausing to question what drives it, then one is merely being ignorant. It's like buying a car that demonstrates 1000+ miles per gallon only to discover later that the test was conducted downhill in neutral with the engine off! "Actual mileage may vary" makes it legal. Let the buyer beware. John.