Finished goods and work in process are stated at the lower of cost (average) or market. Raw materials are stated at cost, principally on a first-in, first-out basis or average basis, not in excess of current replacement cost.
Source: Panasonic Corp., Annual Report
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Panasonic Corp., Statement of Financial Position, Inventory
USD $ in millions, translated from JPY ￥
| Mar 31, 2011 | Mar 31, 2010 | Mar 31, 2009 | Mar 31, 2008 | Mar 31, 2007 | Mar 31, 2006 | ||
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Finished goods | |
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Work in process | |
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Raw materials | |
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Inventories | |
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Source: Based on data from Panasonic Corp. Annual Reports
| Item | Description | The company |
|---|---|---|
| Finished goods | Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. | Panasonic Corp.'s finished goods increased from 2009 to 2010 but then slightly declined from 2010 to 2011. |
| 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. | Panasonic Corp.'s work in process increased from 2009 to 2010 and from 2010 to 2011. |
| Raw materials | Carrying amount as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product. | Panasonic Corp.'s raw materials 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). | Panasonic Corp.'s inventories increased from 2009 to 2010 and from 2010 to 2011. |
May 24, 2012