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

INVENTORIES

9 Months Ended

Oct. 03, 2021

NOTE 7. INVENTORIES

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


In millions	October 3, 2021		December 31, 2020
Finished products	$	2,494	$	2,216
Work-in-process and raw materials	1,998		1,346
Inventories at FIFO cost	4,492		3,562
Excess of FIFO over LIFO	(170)		(137)
Total inventories	$	4,322	$	3,425