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Content analysis
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7th grade Avg
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- 10-K Annual report
- 10 1997 Stock Option Plan
- 10 1997 Restricted Stock Plan
- 13 2002 Annual Report
- 16 Letter Regarding Change In Certifying Accountant
- 18 Preferability Letter from Independent Auditors for Change In Lifo
- 23 Consent of Independend Auditors
- 24 Powers of Attorney
- 99 Certification of Financial Statements by CEO and CFO
Exhibit 18
August 27, 2002
Mr. Ben B. Blount, Jr.
Executive Vice-President-Finance, Planning
& Administration and Chief Financial Officer
Oxford Industries, Inc.
222 Piedmont Avenue, NE
Atlanta, GA 30303
Dear Sir:
Note A of Notes to the Consolidated Financial Statements of Oxford Industries, Inc. and subsidiaries incorporated by reference in its Form 10-K for the year ended May 31, 2002 describes a change in the method of accounting forlast-in, first-out ("LIFO") inventories by reducing the overall number of inventory pools from five to three. There are no authoritative criteria for determining a 'preferable' LIFO method based on the particular circumstances; however, weconclude that suchchange in the method of accountingis to an acceptable alternative method which, based on your business judgment to make this change andfor the stated reasons, is preferable in your circumstances.
Very truly yours,
/s/ Ernst & Young, LLP