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Accounting 551 Course Project – Summary of Significant Accounting Policies Notes to Consolidated Financial StatementsNote 1SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNature of OperationsThe Alpine Ski Company’s (the “Company,” “we” or “us”) business is focused solely on providing high-quality, fashionable ski equipment and apparel. Our products are sold in more than 50 countries, predominantly through internet sales.