DEERE & CO
For the period ended Oct 27, 2024. Filed Dec 12, 2024.
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FY2024 · Filed Dec 12, 2024
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Inventories
13. INVENTORIES
A majority of inventories owned by us are valued at cost on the “last-in, first-out” (LIFO) basis. If all inventories valued on a LIFO basis had been valued on a “first-in, first-out” (FIFO) basis, the estimated inventories by major classification would have been as follows at the end of 2024 and 2023:
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · 2024 · 2023 | |||||||
| Raw materials and supplies | $3,486 | $4,080 | |||||
| Work-in-process | | 930 | | 1,010 | | ||
| Finished goods and parts | | 5,364 | | 5,435 | | ||
| Total FIFO value | | 9,780 | | 10,525 | | ||
| Excess of FIFO over LIFO | | 2,687 | | 2,365 | | ||
| Inventories | $7,093 | $8,160 | | ||||
| Percent valued on LIFO basis | | 54% | | | 53% | | |
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