Quarterly report pursuant to Section 13 or 15(d)

Inventories

v2.4.0.8
Inventories
6 Months Ended
Jun. 28, 2014
Inventory, Net [Abstract]  
Inventories [Text Block]
Note 5: Inventories
We compute inventory cost on a first-in, first-out basis. Costs incurred to manufacture our products are included in the valuation of inventory beginning in the quarter in which a product meets the technical criteria to qualify for sale to customers. Prior to qualification for sale, costs that do not meet the criteria for research and development are included in cost of sales in the period incurred. Inventories at the end of each period were as follows:
(In Millions)
 
Jun 28,
2014
 
Dec 28,
2013
Raw materials
 
$
503

 
$
458

Work in process
 
2,071

 
1,998

Finished goods
 
1,369

 
1,716

Total inventories
 
$
3,943

 
$
4,172