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Microsoft Excel LibreOffice Calc

Analysis of Inventory

Difficulty: Advanced

Inventory Accounting Policy

Inventories are stated at the lower of cost, computed using the first-in, first-out method, and net realizable value. Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period.

Source: Apple Inc., Annual Report

Inventory Disclosure

Apple Inc., Statement of Financial Position, Inventory

USD $ in millions

Microsoft Excel LibreOffice Calc
Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014 Sep 28, 2013 Sep 29, 2012
Inventories hidden hidden hidden hidden hidden hidden

Source: Based on data from Apple Inc. Annual Reports

Item Description The company
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). Apple Inc.'s inventories declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.