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Analysis of Inventory
Difficulty: Advanced
Inventory Accounting Policy
Inventories are stated at the lower of cost or net realizable value with cost based on the first-in, first-out method. Biogen classifies the inventory costs as long-term when Biogen expects to utilize the inventory beyond the normal operating cycle and includes these costs in investments and other assets in the consolidated balance sheets. Inventory that can be used in either the production of clinical or commercial products is expensed as research and development costs when identified for use in a clinical manufacturing campaign.
Source: 10-K (filing date: 2019-02-06).
Inventory Disclosure
Biogen Inc., Statement of Financial Position, Inventory
USD $ in thousands
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |||||||
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Based on: 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-01), 10-K (filing date: 2017-02-02), 10-K (filing date: 2016-02-03), 10-K (filing date: 2015-02-04).
| Item | Description | The company |
|---|---|---|
| Inventory | Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. | Biogen Inc.’s inventory declined from 2016 to 2017 but then slightly increased from 2017 to 2018. |