EMC Corp. (EMC) | Inventory

EMC Corp. (EMC) | Analysis of Inventory

Inventory Accounting Policy

Inventories are stated at the lower of cost (first-in, first-out) or market, not in excess of net realizable value.

Source: EMC Corp., Annual Report

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EMC Corp., Statement of Financial Position, Inventory

USD $ in thousands

Source: Based on data from EMC Corp. Annual Reports

Item	Description	The company
Purchased parts	Aggregated amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed.
Work-in-process	Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.	EMC Corp.'s work-in-process increased from 2009 to 2010 but then slightly declined from 2010 to 2011.
Finished goods	Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.	EMC Corp.'s finished goods increased from 2009 to 2010 and from 2010 to 2011.
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).	EMC Corp.'s inventories declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level.