Article 99Methods of Valuing Inventory

一the cost method (meaning a method of calculating the acquisition price of Inventory held on December 31 of that year (hereinafter in this paragraph referred to as "closing inventory") by any one of the following methods and taking the acquisition price so calculated as the assessed value of that closing inventory):

イthe specific identification method (meaning a method of taking the individual acquisition price of the whole of the closing inventory as its acquisition price);

ロthe first-in first-out method (meaning a method of distinguishing closing inventory by differences in kind, quality, and model (hereinafter in this paragraph referred to as "types, etc."), and, for items of the same types, etc., regarding that closing inventory as consisting, in sequence, of Inventory of the same types, etc. starting from that acquired on the day nearest to December 31 of that year, and taking the acquisition price of the Inventory so regarded as its acquisition price);

ハthe total average method (meaning a method of distinguishing Inventory by differences in types, etc., and, for items of the same types, etc., taking as the acquisition price per unit the price calculated by dividing the sum of the total amount of the acquisition price of Inventory of the same types, etc. held on January 1 of that year and the total amount of the acquisition price of Inventory of the same types, etc. acquired during that year by the total quantity of that Inventory);

ニthe moving average method (meaning a method of distinguishing Inventory by differences in types, etc., and, for items of the same types, etc., regarding the initial acquisition price per unit as having been revised, where Inventory of the same types, etc. is acquired again, to the average unit price calculated on the basis of the quantities and acquisition prices of the Inventory held at the time of that acquisition and the Inventory so acquired, regarding the acquisition price per unit as having been revised by the same method each time Inventory of the same types, etc. is acquired thereafter, and taking as the acquisition price per unit the acquisition price per unit regarded as having been revised on the day nearest to December 31 of that year);

ホthe last purchase cost method (meaning a method of distinguishing closing inventory by differences in types, etc., and, for items of the same types, etc., taking the acquisition price per unit of those acquired on the day nearest to December 31 of that year as the acquisition price per unit);

ヘthe retail method (meaning a method of distinguishing closing inventory by differences in types, etc. or the ordinary gross profit rate (meaning the ratio that the amount obtained by deducting the price normally required to acquire the Inventory from the ordinary sales price of the Inventory bears to that ordinary sales price; the same applies hereinafter in this paragraph), and, for items of the same types, etc. or ordinary gross profit rate, taking as the acquisition price the amount calculated by multiplying the total of the ordinary sales prices of Inventory of the same types, etc. or ordinary gross profit rate as of December 31 of that year by the cost ratio (meaning the ratio that the sum of the total amount of the acquisition price of that Inventory as of January 1 of that year and the total amount of the acquisition price of that Inventory acquired during that year bears to the sum of the total of those ordinary sales prices and the total amount of consideration for that Inventory sold during that year));

二the lower of cost or market method (meaning a method of distinguishing closing inventory by differences in types, etc. (for those based on the price calculated by the cost method using the acquisition price calculated by the retail method listed in (f) of the preceding item, types, etc. or ordinary gross profit rate; the same applies hereinafter in this item), and, for items of the same types, etc., taking as the assessed value the lower of the price assessed by the cost method using the acquisition price calculated by any of the methods listed in the preceding item and the price as of December 31 of that year).