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Inventories | 3 Months Ended
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Jan. 02, 2021
Inventory Disclosure [Abstract] |
Inventories | INVENTORIES Processed products, livestock, and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing, and production overhead, which are related to the purchase and production of inventories. At January 2, 2021, the cost of inventories was determined by either the first-in, first-out (“FIFO”) method or the weighted-average method, which is consistent with the methods used at October 3, 2020. The following table reflects the major components of inventory (in millions):
| January 2, 2021 |  | October 3, 2020
Processed products | $ | 2,142 |  |  | $ | 2,223 |
Livestock | 1,068 |  |  | 977 |
Supplies and other | 705 |  |  | 659 |
Total inventory | $ | 3,915 |  |  | $ | 3,859 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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