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Analysis of Inventory
Inventory Accounting Policy
Inventories are stated at the lower of cost and net realizable value. The majority of inventory is valued based on standard costs, which approximate average costs, while the remainder is principally valued on a first-in, first-out basis. Cost standards are revised at the beginning of each year. The annual effect of resetting standards plus any operating variances incurred during each period are allocated to inventories and recognized in cost of sales as product is sold.
Source: 10-K (filing date: 2018-11-19).
Emerson Electric Co., Statement of Financial Position, Inventory
USD $ in millions
|Sep 30, 2018||Sep 30, 2017||Sep 30, 2016||Sep 30, 2015||Sep 30, 2014||Sep 30, 2013|
|Raw materials and work in process|
Based on: 10-K (filing date: 2018-11-19), 10-K (filing date: 2017-11-20), 10-K (filing date: 2016-11-16), 10-K (filing date: 2015-11-18), 10-K (filing date: 2014-11-19), 10-K (filing date: 2013-11-19).
|Inventories||Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.||Emerson Electric Co.'s inventories increased from 2016 to 2017 and from 2017 to 2018.|