Walmart values inventories at the lower of cost or market as determined primarily by the retail method of accounting, using the last-in, first-out ("LIFO") method for substantially all of the Walmart U.S. segment's inventories. The retail method of accounting results in inventory being valued at the lower of cost or market since permanent markdowns are currently taken as a reduction of the retail value of inventory. The Walmart International segment's inventories are primarily valued by the retail method of accounting, using the first-in, first-out ("FIFO") method. The Sam's Club segment's inventories are valued based on weighted-average cost using the LIFO method. At January 31, 2013 and 2012, Walmart's inventories valued at LIFO approximate those inventories as if they were valued at FIFO.
Source: Wal-Mart Stores Inc., Annual Report
Wal-Mart Stores Inc., Statement of Financial Position, Inventory
USD $ in millions
|Jan 31, 2013||Jan 31, 2012||Jan 31, 2011||Jan 31, 2010||Jan 31, 2009||Jan 31, 2008|
Source: Based on data from Wal-Mart Stores Inc. Annual Reports
|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).||Wal-Mart Stores Inc.'s inventories increased from 2011 to 2012 and from 2012 to 2013.|