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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » Inventory Costs-an amendment of ARB No. 43, Chapter 4,

This excerpt taken from the LUX 20-F filed Jun 28, 2006.
Inventory Costs—an amendment of ARB No. 43, Chapter 4, to clarify that abnormal amounts of idle facility expense, freight, handling costs and wasted material should be recognized as period costs. In addition, this statement requires that the allocation of fixed production costs of conversion be based on the normal capacity of the production facilities. The adoption of such standard is for fiscal years beginning after June 15, 2005. The Company believes the adoption will not have a material effect on the consolidated financial statements.

In December 2004, the FASB issued SFAS No. 123-R (revised 2004),

This excerpt taken from the LUX 20-F filed Jun 29, 2005.
Inventory Costs—an amendment of ARB No. 43, Chapter 4 to clarify that abnormal amounts of idle facility expense, freight, handling costs, and wasted material should be recognized as period costs. In addition, this statement requires that the allocation of fixed production costs of conversion be based on the normal capacity of the production facilities. The adoption of such standard is for fiscal years beginning after June 15, 2005. The Company believes the adoption will not have a material effect on the consolidated financial statements.

 

In December 2004, the FASB issued SFAS No. 123-R (revised 2004),

EXCERPTS ON THIS PAGE:

20-F
Jun 28, 2006
20-F
Jun 29, 2005

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"Inventory Costs-an amendment of ARB No. 43, Chapter 4," elsewhere:

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