# ASC 330-10-50: Inventory — Overall — 50 Disclosure Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/330/10/#50-disclosure) Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:38f09360d2a43bc75833eec266a734ac69ce27b2cc0957973d2c28f4041ea049 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 330-10-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/330/10/#50-disclosure) SEC content: no #### Basis for Stating Inventories ##### [330-10-50-1](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:b05c136435bd0cff6d6e83d4d13fa7e6ed485ef8394d0d70234103e4f537a930 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The basis of stating inventories shall be consistently applied and shall be disclosed in the financial statements; whenever a significant change is made therein, there shall be disclosure of the nature of the change and, if material, the effect on income. A change of such basis may have an important effect upon the interpretation of the financial statements both before and after that change, and hence, in the event of a change, a full disclosure of its nature and of its effect, if material, upon income shall be made. See paragraph [210-10-50-1](https://asc.understandingaccounting.org/asc/210/10/#210-10-50-1). #### Losses from the Subsequent Measurement of Inventory ##### [330-10-50-2](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:f13078a9cc9aca82e6fae2d57a8abb87fa9f0a8c54560875d5395b92d45b0b8d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Substantial and unusual losses that result from the subsequent measurement of [inventory](https://asc.understandingaccounting.org/glossary/i/#inventory "The aggregate of those items of tangible personal property that have any of the following characteristics: Held for sale in the ordinary course of business In process of production for such sale To be currently consumed in the production of goods or services to be available for sale. The term inventory embraces goods awaiting sale (the merchandise of a trading concern and the finished goods of a manufacturer), goods in the course of production (work in process), and goods to be consumed directly or indirectly in production (raw materials and supplies). This definition of inventories excludes long-term assets subject to depreciation accounting, or goods which, when put into use, will be so classified. The fact that a depreciable asset is retired from regular use and held for sale does not indicate that the item should be classified as part of the inventory. Raw materials and supplies purchased for production may be used or consumed for the construction of long-term assets or other purposes not related to production, but the fact that inventory items representing a small portion of the total may not be absorbed ultimately in the production process does not require separate classification. By trade practice, operating materials and supplies of certain types of entities such as oil producers are usually treated as inventory.") (see paragraphs [330-10-35-1A through 35-11](https://asc.understandingaccounting.org/asc/330/10/#330-10-35-1A) ) should be disclosed in the financial statements. #### Goods Stated Above Cost ##### [330-10-50-3](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:c328f9d9919a270f9854c2b09d7a68a6e8b2ceb4fee275e3a0cf8c63aad80a5e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Where goods are stated above cost this fact shall be fully disclosed. #### Stating Inventories at Sales Prices ##### [330-10-50-4](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:4b96e452254c6fe41a6c1848347eeca6cb8986e011661da61b97542610a6d86d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Where such inventories are stated at sales prices, the use of such basis shall be fully disclosed in the financial statements. #### Losses on Firm Purchase Commitments ##### [330-10-50-5](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-5) Pending content: yes Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:e16fd56d06401de57917d210c435da9cfec79c8ca5760509225f20df626ef912 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The amounts of net losses on firm purchase commitments accrued under paragraph [330-10-35-17](https://asc.understandingaccounting.org/asc/330/10/#330-10-35-17) shall be disclosed separately in the income statement. Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance: [220-40-65-1](https://asc.understandingaccounting.org/asc/220/40/#220-40-65-1)The amounts of net losses on firm purchase commitments accrued under paragraph [330-10-35-17](https://asc.understandingaccounting.org/asc/330/10/#330-10-35-17) shall be disclosed separately in the income statement. See paragraphs [220-40-50-21 through 50-25](https://asc.understandingaccounting.org/asc/220/40/#220-40-50-21) for additional disclosure requirements. #### Disclosure of Significant Estimates ##### [330-10-50-6](https://asc.understandingaccounting.org/asc/330/10/#330-10-50-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:50:51.981Z to 2026-09-09T23:50:51.981Z Record version: sha256:5a1e3f47e54c46fdd4ffb498926935dcda6e8986a4ca0306c801189c2f2a4fe3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See Example 1 (paragraph [330-10-55-8](https://asc.understandingaccounting.org/asc/330/10/#330-10-55-8)) for an illustration of the disclosure of significant estimates applicable to inventories as required by Section 275-10-50.