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INVENTORIES | 9 Months Ended
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Jun. 29, 2024
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories are stated at the lower of cost or net realizable value. Cost of inventories is generally determined by the average cost and the first–in, first–out (“FIFO”) methods and includes material, labor and overhead related to the manufacturing process. Inventories consist of the following (in millions):
| June 29, 2024 |  | September 30, 2023
Raw materials and purchased component parts | $ | 1,313 |  |  | $ | 1,144 |
Work-in-progress | 508 |  |  | 455 |
Finished goods | 285 |  |  | 226 |
Total | 2,106 |  |  | 1,825 |
Reserves for excess and obsolete inventory | (228) |  |  | (209) |
Inventories—Net | $ | 1,878 |  |  | $ | 1,616 |

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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