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INVENTORIES (Tables)

12 Months Ended

Nov. 01, 2020

INVENTORIES

Major Classification of Inventories

If all inventories had been valued on a FIFO basis, estimated inventories by major classification at November 1, 2020 and November 3, 2019 in millions of dollars would have been as follows:

​

​	​	​	​	​	​	​	​
​		2020			2019
Raw materials and supplies		$	1,995		$	2,285
Work-in-process	​		648	​		747	​
Finished goods and parts	​		4,006	​		4,613	​
Total FIFO value	​		6,649	​		7,645	​
Less adjustment to LIFO value	​		1,650	​		1,670	​
Inventories		$	4,999		$	5,975	​

​

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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

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