INVENTORIES

Processed products, livestock and supplies and other are valued at the lower of cost or market. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories.

At June 27, 2015, and September 27, 2014, 66% of the cost of inventories was determined by the first-in, first-out ("FIFO") method. The remaining cost of inventories for both years is determined by the weighted-average method.

The following table reflects the major components of inventory (in millions):



	June 27, 2015		September 27, 2014
Processed products	$	1,686	$	1,794
Livestock	979		1,066
Supplies and other	417		414
Total inventory	$	3,082	$	3,274