Change in Inventory Valuation Method Prompted by Full Rollout of New Store Management System
First written in FY2017-Q2. 1 of 3 entries say "Restated". Latest entry: FY2022.
1 other company's latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「Merchandise is generally valued using the cost method based on the specific-identification method, with the balance-sheet carrying amount calculated by writing down the book value when profitability declines. For long-stay items with low sales potential, the company also records necessary valuation losses and disposes of the items.」
The company specifically describes the practical treatment following the change in inventory valuation method, including write-downs due to declining profitability and valuation losses and disposal of long-stay items. - FY2017-Q3RestatedAnnual report
「The company had used the cost method based on the moving-average method to value its merchandise, but changed to the cost method based on the specific-identification method from the second quarter accounting period. The change was made when the new store management system became operational across all stores during the second quarter accounting period, with the aim of valuing inventories and calculating periodic income and loss more appropriately.」
The notes reconfirm the change in the inventory valuation method following the rollout of the new store management system across all stores. - FY2017-Q2First statedAnnual report
「The company had used the cost method based on the moving-average method to value its merchandise, but changed to the cost method based on the specific-identification method from the second quarter accounting period. The change was made when the new store management system became operational across all stores during the second quarter accounting period, with the aim of valuing inventories and calculating periodic income and loss more appropriately.」
Following the rollout of the new store management system across all stores, the inventory valuation method was changed from the moving-average method to the specific-identification method.