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Analysis of Inventory

Difficulty: Advanced


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).


Inventory Disclosure

Amgen Inc., Statement of Financial Position, Inventory

USD $ in millions

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Raw materials hidden hidden hidden hidden hidden
Work in process hidden hidden hidden hidden hidden
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Inventories hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-19), 10-K (filing date: 2014-02-24).

Item Description The company
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.