Are there any public companies in Japan using LIFO Accounting? (cost, stores)

[dsgallant]

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.

[Sgoldie]

Try a sector with inventory such as cars - Honda (Jpn), Hyundai (korea), Mercedes (Ger) to see if they're LIFO or FIFO.

[varduren]

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.

[Amazonas]

Originally Posted by varduren

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.