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Analysis of Inventory
Inventory Accounting Policy
Inventories are stated at the lower of cost or net realizable value. Cost, which includes amounts related to materials, labor and overhead, is determined in a manner that approximates the first-in, first-out method. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.
Source: 10-K (filing date: 2018-02-13).
Amgen Inc., Statement of Financial Position, Inventory
USD $ in millions
|Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|Work in process|
|Inventories||Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.||Amgen Inc.’s inventories increased from 2015 to 2016 and from 2016 to 2017.|