Change in the Inventory Valuation Method for In-Store-Prepared Products
First written in FY2017-Q2. 2 of 3 entries say "Restated". Latest entry: FY2017.
19 other companies' latest entry also says "Restated".
- FY2017RestatedAnnual report
「From the current consolidated fiscal year, the company changed the method used for certain fast-food products processed in stores and other products in its convenience-store business to the cost method based on the weighted-average cost method, with book values written down when profitability declined.」
The accounting policy change to the weighted-average cost method for inventory valuation of in-store processed products and other products continued to be disclosed. - FY2017-Q3RestatedAnnual report
「Previously, the company used the retail method of accounting for inventories, under which cost was determined using the retail method, with book values written down when profitability declined. From the first quarter of the consolidated fiscal year, however, the company changed the method used for certain fast-food products processed in stores and other products in its convenience-store business to the cost method based on the weighted-average cost method, with book values written down when profitability declined.」
The accounting policy change to the weighted-average cost method for inventory valuation of in-store processed products and other products continued to be disclosed. - FY2017-Q2First statedAnnual report
「Previously, the company used the retail method of accounting for inventories, under which cost was determined using the retail method, with book values written down when profitability declined. From the first quarter of the consolidated fiscal year, however, the company changed the method used for certain fast-food products processed in stores and other products in its convenience-store business to the cost method based on the weighted-average cost method, with book values written down when profitability declined.」
The company changed the inventory valuation method for certain in-store processed products and other products to the weighted-average cost method. The purpose was to improve the accuracy of inventory valuation, inventory management and period-profit calculations; the impact was immaterial.