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Inventories | 9 Months Ended
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Jun. 29, 2024
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 June 29, 2024, the cost of inventories was determined by either the first-in, first-out method or the weighted-average method, which is consistent with the methods used at September 30, 2023. Inventories are presented net of lower of cost or net realizable value adjustments of $139 million and $145 million as of June 29, 2024 and September 30, 2023, respectively. The following table reflects the major components of inventory (in millions):
| June 29, 2024 |  | September 30, 2023
Processed products | $ | 2,785 |  |  | $ | 2,847 |
Livestock | 1,429 |  |  | 1,594 |
Supplies and other | 819 |  |  | 887 |
Total inventory | $ | 5,033 |  |  | $ | 5,328 |

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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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