Change in Inventory Valuation Method Accompanying Inventory Management System Upgrade
First written in FY2018-Q1. 4 of 5 entries say "Restated". Latest entry: FY2021.
30 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「The cost method based primarily on the moving average method is used to value merchandise, finished goods and raw materials among inventories.」
The change in the inventory valuation method to the moving average method, prompted by the inventory management system update, continues to be applied. - FY2019RestatedAnnual report
「The valuation method for merchandise, finished goods and raw materials included in inventories was previously based primarily on the first-in, first-out method, but has been changed primarily to the moving-average method from the fiscal year under review.」
The change in the inventory valuation method from FIFO to the moving average method, prompted by the inventory management system update, continues to be applied. - FY2018RestatedAnnual report
「The valuation method for merchandise, finished goods and raw materials included in inventories was previously based primarily on the first-in, first-out method, but has been changed primarily to the moving-average method from the first quarter. This change was made following the upgrade of the inventory management system during the fiscal year under review to ensure a more appropriate calculation of profit and loss for each period.」
The change in the valuation method from the first-in, first-out method to the moving-average method following the inventory management system upgrade continues to be applied as the accounting policy for the full fiscal year. - FY2018-Q3RestatedAnnual report
「The valuation method for merchandise, finished goods and raw materials included in inventories was previously based primarily on the first-in, first-out method, but has been changed primarily to the moving-average method from the first quarter. This change was made following the upgrade of the inventory management system during the fiscal year under review to ensure a more appropriate calculation of profit and loss for each period.」
The change in the inventory valuation method following the inventory management system upgrade continues to be applied in the quarterly notes. - FY2018-Q1First statedAnnual report
「The valuation method for merchandise, finished goods and raw materials included in inventories was previously based primarily on the first-in, first-out method, but has been changed primarily to the moving-average method from the first quarter under review. This change was made following the upgrade of the inventory management system during the fiscal year under review to ensure a more appropriate calculation of profit and loss for each period.」
Following the upgrade of the inventory management system, the inventory valuation method was changed from the first-in, first-out method to the moving-average method.