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Analysis of Inventory

Difficulty: Advanced


Inventory Accounting Policy

Inventories are stated at the lower of cost or market, with cost generally determined on a first-in, first-out basis.

Source: 10-K (filing date: 2018-02-08).


Inventory Disclosure

3M Co., 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
Finished goods hidden hidden hidden hidden hidden
Work in process hidden hidden hidden hidden hidden
Raw materials and supplies hidden hidden hidden hidden hidden
Inventories hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-13).

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. 3M Co.'s inventories declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.