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1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:

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Page 1: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 2: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 3: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 4: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 5: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 6: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 7: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 8: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 9: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 10: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 11: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 12: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 13: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 14: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 15: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 16: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 17: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 18: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 19: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 20: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 21: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 22: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 23: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 24: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 25: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 26: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:
Page 27: 1977 Annual Report - Walmart · The company adopted the LIFO method Of costing inventories which resulted in a reduction in net income Of $2,347,000 or $. 18 per share. To Our Shareholders:

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