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…expenditures made pursuant to the University's grants and contracts. Accounts receivable are
recorded net of estimated uncollectible amounts. (See Note 4)
Inventories. Inventories are recorded at the lower of cost, using the first in first out method, or market.
Loans to Students. The University makes loans to students under various federal and other …
https://www.wichita.edu/_archive/services/controller/Accounting/_documents/afr_20.pdf