210 Balance Sheet 10 Overall S99 SEC Materials General
• 6. Inventories. o (a) State separately in the balance sheet or in a note thereto, if practicable, the amounts of major classes of inventory such as:
 (1) Finished goods;
 (2) inventoried costs relating to long-term contracts or programs (see (d) below and § 210.4–05);
 (3) work in process (see § 210.4–05);
 (4) raw materials; and
 (5) supplies. o If the method of calculating a LIFO inventory does not allow for the practical determination of amounts assigned to major classes of inventory, the amounts of those classes may be stated under cost flow assumptions other that LIFO with the excess of such total amount over the aggregate LIFO amount shown as a deduction to arrive at the amount of the LIFO inventory. o (b) The basis of determining the amounts shall be stated. o If cost is used to determine any portion of the inventory amounts, the description of this method shall include the nature of the cost elements included in inventory. Elements of cost include, among other items, retained costs representing the excess of manufacturing or production costs over the amounts charged to cost of sales or delivered or in-process units, initial tooling or other deferred startup costs, or general and administrative costs. o The method by which amounts are removed from inventory (e. g., average cost, first-in, first-out, last-in, first-out, estimated average cost per unit) shall be described. If the estimated average cost per unit is used as a basis to determine amounts removed from inventory under a total program or similar basis of accounting, the principal assumptions (including, where meaningful, the aggregate number of units expected to be delivered under the program, the number of units delivered to date and the number of units on order) shall be disclosed.
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