Asus 2011 Annual Report Download - page 170

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166
~38~
(7) Inventories
Except for cost of goods sold, the inventories recognized as (increase) decrease in operating costs
amounted to ($526,827) and $545,386, of which ($515,850) and $316,125 were net (provision for
decline in value) realizable value recovery of inventories because some inventories with allowance for
decline in value had been sold during the years ended December 31, 2010, respectively.
(8) Long-term equity investments
A. Details of long-term equity investments accounted for under the equity method are as follows:
B. The investment income recognized under the equity method amounted to $24,826 and
$1,110,908 for the years ended December 31, 2011 and 2010, respectively, which were
determined based on the investees’ audited financial statements. As of December 31, 2011 and
2010, the related long-term equity investments amounted to $22,745,490 and $22,353,615,
respectively.
C. On June 1, 2010, the Company transferred the OEM assets and business (the Company's
long-term equity investment in PEGA) to PII. PII then issued new shares to the Company
and its shareholders as consideration. The Company then obtained 25% ownership amounting
to $23,399,241 of the consolidated PEGA and PII (PII is the dissolved company).
2011/12/31 2010/12/31
Raw materials 8,358,404$ 10,656,904$
Work in process
1,746,562 1,362,069
Finished goods
1,751,631 1,924,015
Merchandise inventories 49,936,710 34,725,954
Inventories in transit 322,909 768,441
62,116,216 49,437,383
Less: allowance for decline in value of
4,218,669)( 3,640,198)(
inventories
57,897,547$ 45,797,185$
Percentage
Percentage
Carrying of Carrying of
Investee company
amount
ownership
amount
ownership
PEGA 22,374,681$ 24.46 22,165,896$ 24.45
Others 370,809 194,270
22,745,490$ 22,360,166$
2011/12/31 2010/12/31