Cummins Inc. Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

6 Months Ended

Jul. 04, 2021

NOTE 7. INVENTORIES

Inventories are stated at the lower of cost or net realizable value. Inventories included the following:


In millions	July 4, 2021		December 31, 2020
Finished products	$	2,470	$	2,216
Work-in-process and raw materials	1,767		1,346
Inventories at FIFO cost	4,237		3,562
Excess of FIFO over LIFO	(161)		(137)
Total inventories	$	4,076	$	3,425