Inventory Accounting Policy
Inventories consist principally of tubular goods and equipment, stated at weighted-average cost, and oil produced but not sold, stated at the lower of cost or market.
Source: Apache Corp., Annual Report
Inventories consist principally of tubular goods and equipment, stated at weighted-average cost, and oil produced but not sold, stated at the lower of cost or market.
Source: Apache Corp., Annual Report
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Apache Corp., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
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Inventories | |
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Source: Based on data from Apache Corp. Annual Reports
| Item | Description | The company |
|---|---|---|
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Apache Corp.'s inventories increased from 2009 to 2010 and from 2010 to 2011. |
May 23, 2012