Question

Access 3M Co.'s annual report (10-K) for the fiscal year ended December 31, 2014 at the SEC's Edgar database (SEC.gov) or its website (3M.com). From the balance sheet, identify the titles and amounts of its inventory components.

Answer 1

Inventory

Inventory represents a company's product to be used in order to create or manufecture some goods or services. Inventory of a company includes following aspects of it :

1) Raw Material

2) Work in Progress

3) Finished Goods

3M Co.'s annual report for the fiscal year ended December 31, 2014 discloses below mentioned information regarding its inventory.

Table-1

TITLES	AMOUNTS ($)
Raw Material	902 Millions
Work in Progress	1.08 Billions
Finished Goods	1.72 Billions

Hence, Components such as raw material, work in progress and finished goods form out the Inventory for 3M Co.

Inventory for the year ended December 31, 2014 stands out at 3.71 Billions.