Inventories are valued at the lower of cost or market. Cost is determined using the average, first-in, first-out (FIFO) or last-in, first-out (LIFO) methods. Approximately 3% in 2011 and 8% in 2010 of the inventory cost was computed using the LIFO method. The differences between LIFO and FIFO methods of valuing these inventories were not material.
Source: PepsiCo Inc., Annual Report
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PepsiCo Inc., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 25, 2010 | Dec 26, 2009 | Dec 27, 2008 | Dec 29, 2007 | ||
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Raw materials | |
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Work-in-process | |
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Finished goods | |
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Inventories | |
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Source: Based on data from PepsiCo Inc. Annual Reports
| Item | Description | The company |
|---|---|---|
| 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. | PepsiCo Inc.'s raw materials increased from 2009 to 2010 and 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. | PepsiCo Inc.'s work-in-process declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Finished goods | Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. | PepsiCo Inc.'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). | PepsiCo Inc.'s inventories increased from 2009 to 2010 and from 2010 to 2011. |
May 19, 2012