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INVENTORIES (Tables)

3 Months Ended

Jan. 31, 2015

INVENTORIES

Major Classification of Inventories

       Most inventories owned by Deere & Company and its U.S. equipment subsidiaries and certain foreign equipment subsidiaries are valued at cost on the “last-in, first-out” (LIFO) method. If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows:

		January 31 2015				October 31 2014				January 31 2014
Raw materials and supplies		$	1,723			$	1,724			$	2,108
Work-in-process		697				654				847
Finished goods and parts		3,622				3,360				4,151
Total FIFO value		6,042				5,738				7,106
Less adjustment to LIFO value		1,515				1,528				1,551
Inventories		$	4,527			$	4,210			$	5,555

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- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 2

-Paragraph 6

-Subparagraph a,b,c

-Article 5

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