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Analysis of Inventory

Difficulty: Advanced


Inventory Accounting Policy

Inventories are stated at the lower of cost (first-in, first-out basis) or market. Cost includes material and conversion costs.

Source: 10-K (filing date: 2018-02-16).


Inventory Disclosure

Abbott Laboratories, 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
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Based on: 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-27), 10-K (filing date: 2014-02-21).

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. Abbott Laboratories's inventories declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.