PTV » Topics » Inventories

These excerpts taken from the PTV 10-K filed Feb 27, 2009.
Inventories
 
Our inventories are stated at the lower of cost or market. A portion of inventories (52% at December 31, 2008, and 51% at December 31, 2007) is valued using the last-in, first-out (LIFO) method of accounting. Products which are made and sold in the U.S. and use polystyrene, polyethylene, amorphous polyethylene terephthalate or paper as their principal raw material utilize the LIFO method of inventory accounting. Similar products which are produced and sold outside of the U.S. use the first-in, first-out (FIFO) or the average-cost method of inventory accounting because the LIFO valuation method is not permitted in those countries in which we operate. Worldwide, we use the FIFO accounting method for production supplies and other products made from aluminum and polypropylene. If FIFO or average-cost methods had been used to value all inventories, the total inventory balance would have been $59 million higher at December 31, 2008, and $48 million higher at December 31, 2007.
 
Inventories


 



Our inventories are stated at the lower of cost or market. A
portion of inventories (52% at December 31, 2008, and 51%
at December 31, 2007) is valued using the
last-in,
first-out (LIFO) method of accounting. Products which are made
and sold in the U.S. and use polystyrene, polyethylene,
amorphous polyethylene terephthalate or paper as their principal
raw material utilize the LIFO method of inventory accounting.
Similar products which are produced and sold outside of the
U.S. use the
first-in,
first-out (FIFO) or the average-cost method of inventory
accounting because the LIFO valuation method is not permitted in
those countries in which we operate. Worldwide, we use the FIFO
accounting method for production supplies and other products
made from aluminum and polypropylene. If FIFO or average-cost
methods had been used to value all inventories, the total
inventory balance would have been $59 million higher at
December 31, 2008, and $48 million higher at
December 31, 2007.


 




These excerpts taken from the PTV 10-K filed Feb 29, 2008.
Inventories
 
Our inventories are stated at the lower of cost or market. A portion of inventories (51% and 55% at December 31, 2007, and 2006, respectively) is valued using the last-in, first-out (LIFO) method of accounting. Products which are made and sold in the U.S. and use polystyrene, polyethylene, amorphous polyethylene terephthalate or paper as their principal raw material utilize the LIFO method of inventory accounting. Similar products which are produced and sold outside of the U.S. use the first-in, first-out (FIFO) or the average-cost method of inventory accounting because the LIFO valuation method is not permitted in those countries in which we operate. Worldwide, we use the FIFO accounting method for production supplies and other products made from aluminum and polypropylene. If FIFO or average-cost methods had been used to value all inventories, the total inventory balance would have been $48 million higher at December 31, 2007, and $59 million higher at December 31, 2006.
 
Inventories


 



Our inventories are stated at the lower of cost or market. A
portion of inventories (51% and 55% at December 31, 2007,
and 2006, respectively) is valued using the
last-in,
first-out (LIFO) method of accounting. Products which are made
and sold in the U.S. and use polystyrene, polyethylene,
amorphous polyethylene terephthalate or paper as their principal
raw material utilize the LIFO method of inventory accounting.
Similar products which are produced and sold outside of the
U.S. use the
first-in,
first-out (FIFO) or the average-cost method of inventory
accounting because the LIFO valuation method is not permitted in
those countries in which we operate. Worldwide, we use the FIFO
accounting method for production supplies and other products
made from aluminum and polypropylene. If FIFO or average-cost
methods had been used to value all inventories, the total
inventory balance would have been $48 million higher at
December 31, 2007, and $59 million higher at
December 31, 2006.


 




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