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Old 05-13-2008, 07:53 PM
 
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I need to find a 2007 annual report of a public company in Japan, Korea, Germany, Belgium or Spain that uses LIFO accounting for Inventory. Can anyone give me a public company name or a webite?

Thanks in advance.
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Old 05-13-2008, 08:10 PM
 
Location: Happy wherever I am - Florida now
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Try a sector with inventory such as cars - Honda (Jpn), Hyundai (korea), Mercedes (Ger) to see if they're LIFO or FIFO.
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Old 02-26-2009, 05:52 PM
 
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GAAP seems to be have made LIFO pretty much out of bounds for alot of industries from what I've seen. In some countries its even illegal. weirdly enuff tho it still remains a configurable option in alot of ERP systems.
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Old 02-28-2009, 08:09 AM
 
238 posts, read 669,025 times
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Quote:
Originally Posted by varduren View Post
GAAP seems to be have made LIFO pretty much out of bounds for alot of industries from what I've seen. In some countries its even illegal. weirdly enuff tho it still remains a configurable option in alot of ERP systems.

I agree with your statement. I always thought that somehow the LIFO method of inventory accounting conflicted with the historical cost principle in a weird way. However, chain stores in the auto, pharmaceutical, and agricultural sector still use LIFO. Maybe any European chain store in the afored mentioned industry might still use this method.
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