{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/330/","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","number":"330","title":"Inventory","area":"Assets","group":null,"subtopics":[{"number":"330-10","topic":"330","title":"Overall","area":"Assets","paragraphs":89,"summary":"ASC 330-10 governs the accounting for inventory: inventory is initially measured at cost (all expenditures and charges, direct and indirect, incurred to bring an article to its existing condition and location), with fixed production overhead allocated based on normal capacity and unallocated overhead, abnormal freight, handling, and spoilage expensed as incurred. Cost may be assigned using FIFO, average cost, LIFO, standard cost, or the retail inventory method, chosen to most clearly reflect periodic income and applied consistently. Subsequent measurement is bifurcated: inventory measured under LIFO or the retail inventory method uses lower of cost or market, while all other inventory (FIFO, average cost) uses lower of cost and net realizable value.","concepts":["inventory cost","normal capacity","fixed production overhead allocation","lower of cost and net realizable value","lower of cost or market","cost flow assumptions (fifo, lifo, average)","retail inventory method","firm purchase commitment losses"],"categories":["Inventory and PP&E","Initial measurement","Subsequent measurement","Impairment"],"level":"introductory","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
CustomerAddedAccounting Standards Update No. 2014-0905/28/2014
Direct Effects of a Change in Accounting PrincipleAmendedAccounting Standards Update No. 2015-1107/22/2015
Market (2nd def.)AmendedAccounting Standards Update No. 2014-0603/14/2014
Net Realizable Value (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Net Realizable Value (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Public Business EntityAmendedMaintenance Update 2017-06 (PDF)04/07/2017
Public Business EntityAmendedMaintenance Update 2016-11 (PDF)06/27/2016
Reseller (2nd def.)AddedAccounting Standards Update No. 2014-0905/28/2014
VendorAddedAccounting Standards Update No. 2014-0905/28/2014
330-10-30-8AmendedAccounting Standards Update No. 2014-0905/28/2014
330-10-30-19SupersededAccounting Standards Update No. 2014-0905/28/2014
330-10-30-20AddedAccounting Standards Update No. 2014-0905/28/2014
330-10-30-21AddedAccounting Standards Update No. 2014-0905/28/2014
330-10-35-1SupersededAccounting Standards Update No. 2015-1107/22/2015
330-10-35-1A through 35-1C
AddedAccounting Standards Update No. 2015-1107/22/2015
330-10-35-2AmendedAccounting Standards Update No. 2015-1107/22/2015
330-10-35-6SupersededAccounting Standards Update No. 2015-1107/22/2015
330-10-35-7AAddedAccounting Standards Update No. 2015-1107/22/2015
330-10-35-8 through 35-11
AmendedAccounting Standards Update No. 2015-1107/22/2015
330-10-35-21AmendedAccounting Standards Update No. 2014-0905/28/2014
330-10-35-22AmendedAccounting Standards Update No. 2014-0905/28/2014
330-10-45-2SupersededAccounting Standards Update No. 2014-0905/28/2014
330-10-50-1AmendedAccounting Standards Update No. 2012-0410/01/2012
330-10-50-2AmendedAccounting Standards Update No. 2015-1107/22/2015
330-10-50-5AmendedAccounting Standards Update No. 2024-0311/04/2024
330-10-55-2AmendedAccounting Standards Update No. 2015-1107/22/2015
330-10-55-5 through 55-7
SupersededAccounting Standards Update No. 2017-0703/10/2017
330-10-55-6AAddedAccounting Standards Update No. 2017-0703/10/2017
330-10-65-1AddedAccounting Standards Update No. 2015-1107/22/2015
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nCustomer | Added | Accounting Standards Update No. 2014-09 | 05/28/2014 |\nDirect Effects…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:720c759f009e8a658b95e192e420925904d005a6a852b185ec600570ba50daf5","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:50:30.404Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483085","source_sha256":"06367a1c5db2752a7c7b97fe79617a09d061327f454fe9a8df9f227fc2376724"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dfaf943ed9a08e59769ddbbb61a4e3c146aae3c7f6476e453218eb6e88ebd34f","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:50:30.404Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483085","source_sha256":"06367a1c5db2752a7c7b97fe79617a09d061327f454fe9a8df9f227fc2376724"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c4a35cd99d4bf1b1c39309798c334171579228515b05af3f998e2317eae5b346","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:50:30.404Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483085","source_sha256":"06367a1c5db2752a7c7b97fe79617a09d061327f454fe9a8df9f227fc2376724"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-05-1","para":"05-1","html":"
The Inventory Topic addresses the accounting principles and reporting practices applicable to inventory.
","snippet":"The Inventory Topic addresses the accounting principles and reporting practices applicable to inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2afb66158d4769376dc28675553524bc3284a289287ba0ed3e1db479bb98a919","downloaded_from":"2026-09-09T23:50:33.473Z","last_downloaded_at":"2026-09-09T23:50:33.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483059","source_sha256":"662dc24009a4977d19a0f4643609f418bb17dca820805b9e18bcecfae18677ad"}},{"citation":"330-10-05-2","para":"05-2","html":"
An inventory has financial significance because revenues may be obtained from its sale, or from the sale of the goods or services in the production of which it is used. Normally such revenues arise in a continuous repetitive process or cycle of operations in which goods are acquired, created, and sold, and further goods are acquired for additional sales.
","snippet":"An inventory has financial significance because revenues may be obtained from its sale, or from the sale of the goods or services in the production of which it is used. Normally such revenues arise in a continuous repeti…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:44e3889cde55ee061c5ba4d1cbccb1f6c90ecd6f0a102117a3d80b3e69260d17","downloaded_from":"2026-09-09T23:50:33.473Z","last_downloaded_at":"2026-09-09T23:50:33.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483059","source_sha256":"662dc24009a4977d19a0f4643609f418bb17dca820805b9e18bcecfae18677ad"}},{"citation":"330-10-05-3","para":"05-3","html":"
Thus, the inventory at any given date is the balance of costs applicable to goods on hand remaining after the matching of absorbed costs with concurrent revenues. This balance is appropriately carried to future periods provided it does not exceed an amount properly chargeable against the revenues expected to be obtained from ultimate disposition of the goods carried forward. In practice, this balance is determined by the process of pricing the articles included in the inventory.
","snippet":"Thus, the inventory at any given date is the balance of costs applicable to goods on hand remaining after the matching of absorbed costs with concurrent revenues. This balance is appropriately carried to future periods p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0a6aefeaec25660a3bda5e42ab9594053159c29f5692415817490f80327cf91c","downloaded_from":"2026-09-09T23:50:33.473Z","last_downloaded_at":"2026-09-09T23:50:33.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483059","source_sha256":"662dc24009a4977d19a0f4643609f418bb17dca820805b9e18bcecfae18677ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f87c758be78cd0e2baee2735c9571cead900e45af2e66c537c506cc9c09cf4de","downloaded_from":"2026-09-09T23:50:33.473Z","last_downloaded_at":"2026-09-09T23:50:33.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483059","source_sha256":"662dc24009a4977d19a0f4643609f418bb17dca820805b9e18bcecfae18677ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4ea5a29600c4bf811550f5cae39d34a747789dc6f24ab94b3a316c985ce777ac","downloaded_from":"2026-09-09T23:50:33.473Z","last_downloaded_at":"2026-09-09T23:50:33.473Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483059","source_sha256":"662dc24009a4977d19a0f4643609f418bb17dca820805b9e18bcecfae18677ad"}},{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-10-1","para":"10-1","html":"
A major objective of accounting for inventories is the proper determination of income through the process of matching appropriate costs against revenues.
","snippet":"A major objective of accounting for inventories is the proper determination of income through the process of matching appropriate costs against revenues.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c13291aa10001aac803051bd65fcb11830453c0cbe25d53e360018813b496c96","downloaded_from":"2026-09-09T23:50:35.647Z","last_downloaded_at":"2026-09-09T23:50:35.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483033","source_sha256":"aa2293157e42d5892662b2ab69d55ac7b76e3741ff5332fea43db5759d4561a0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3bb48e259341b1eb3b95869143831794b44e35b4d0f9c2dbaf422f4e1762960","downloaded_from":"2026-09-09T23:50:35.647Z","last_downloaded_at":"2026-09-09T23:50:35.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483033","source_sha256":"aa2293157e42d5892662b2ab69d55ac7b76e3741ff5332fea43db5759d4561a0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bb5b9f36f4b4e3f319dd18ad7d92abd8b5b1a273864545d905e4dbbc4d79a2ab","downloaded_from":"2026-09-09T23:50:35.647Z","last_downloaded_at":"2026-09-09T23:50:35.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483033","source_sha256":"aa2293157e42d5892662b2ab69d55ac7b76e3741ff5332fea43db5759d4561a0"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-10-15-1","para":"15-1","html":"
The Scope Section of the Overall Subtopic establishes the pervasive scope for the Inventory Topic.
","snippet":"The Scope Section of the Overall Subtopic establishes the pervasive scope for the Inventory Topic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9c1178cfb0beefe98d3785c0d02a08407c75934b3a053819f5a2570f480fcb73","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22bd82b307ac7039ea9fa9cf62446c5b95ae467b7a522cffd56c4bbd5a68ddbe","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"330-10-15-2","para":"15-2","html":"
The guidance in the Inventory Topic applies to all entities, with the following qualifications.
","snippet":"The guidance in the Inventory Topic applies to all entities, with the following qualifications.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d07dfb2c0f9635a18c8243c210ce2e68ce4418e50f6d902e015315d27bf5ca3","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}},{"citation":"330-10-15-3","para":"15-3","html":"
The guidance in this Topic is not necessarily applicable to the following entities:
  1. a
    Not-for-profit entities (NFPs)
  2. b
    Regulated utilities.
","snippet":"The guidance in this Topic is not necessarily applicable to the following entities:\n(a) Not-for-profit entities (NFPs)\n(b) Regulated utilities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50da4421631e7e4ce16d4977f70b8b00ad332092f6890371ddea9203f3e68630","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:269319b6d326cbe5630d4fa5d1ed2da5566bb4a1b1fd5b8fec44da731b52db8e","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4badf5ea554d9de88b169f70e7a7f485a035061a5f4a1aa25aa48a3597134c57","downloaded_from":"2026-09-09T23:50:38.796Z","last_downloaded_at":"2026-09-09T23:50:38.796Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483008","source_sha256":"e142d07b99f510f52202ee1f6af9e339180aa2170d65b370b3ff18aedf4ae89a"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":"Cost Basis","paragraphs":[{"citation":"330-10-30-1","para":"30-1","html":"
The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset. As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. It is understood to mean acquisition and production cost, and its determination involves many considerations.
","snippet":"The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset. As applied to inventories, cost means in principle the sum of the ap…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8ef44a573cdf88501800f0eb7325413ad6993b8d054255a1f3e92370da1a6f9","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-2","para":"30-2","html":"
Although principles for the determination of inventory costs may be easily stated, their application, particularly to such inventory items as work in process and finished goods, is difficult because of the variety of considerations in the allocation of costs and charges.
","snippet":"Although principles for the determination of inventory costs may be easily stated, their application, particularly to such inventory items as work in process and finished goods, is difficult because of the variety of con…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1570c59aee9618e7bd4c1119ac659805cfb36e7b6d0b456c6e8b419e4e411b9e","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-3","para":"30-3","html":"
For example, variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilities. However, the allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Normal capacity refers to a range of production levels. Normal capacity is the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Some variation in production levels from period to period is expected and establishes the range of normal capacity.
","snippet":"For example, variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilities. However, the allocation of fixed production overheads to the costs of conve…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0eae4a01df9aa6e2bdb87cbe3f24da92ffdf1c38bb71d6346d03777c3ce1db14","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-4","para":"30-4","html":"
The range of normal capacity will vary based on business- and industry-specific factors. Judgment is required to determine when a production level is abnormally low (that is, outside the range of expected variation in production).
","snippet":"The range of normal capacity will vary based on business- and industry-specific factors. Judgment is required to determine when a production level is abnormally low (that is, outside the range of expected variation in pr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da3d3f937dc6d9d605fed23a1f2704ca352f71f65470fce1e2a16ffcb8342e6b","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-5","para":"30-5","html":"
Examples of factors that might be anticipated to cause an abnormally low production level include significantly reduced demand, labor and materials shortages, and unplanned facility or equipment downtime.
","snippet":"Examples of factors that might be anticipated to cause an abnormally low production level include significantly reduced demand, labor and materials shortages, and unplanned facility or equipment downtime.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1364e34ce38d77de392156ba2eb4ba6dad6348cd3f2c9156685068006bd06705","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-6","para":"30-6","html":"
The actual level of production may be used if it approximates normal capacity. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production shall be decreased so that inventories are not measured above cost. The amount of fixed overhead allocated to each unit of production shall not be increased as a consequence of abnormally low production or idle plant.
","snippet":"The actual level of production may be used if it approximates normal capacity. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production shall be decreased so that invent…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2137c242abf90807ebdbfcdaf56c71a72a0b90f8990720739dda99e4b5eba65","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-7","para":"30-7","html":"
Unallocated overheads shall be recognized as an expense in the period in which they are incurred. Other items such as abnormal freight, handling costs, and amounts of wasted materials (spoilage) require treatment as current period charges rather than as a portion of the inventory cost.
","snippet":"Unallocated overheads shall be recognized as an expense in the period in which they are incurred. Other items such as abnormal freight, handling costs, and amounts of wasted materials (spoilage) require treatment as curr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4f18e34fc5c681e4cd13fa07c04cac29db6f2bcfc3b3375630cc13457f2cc76","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-8","para":"30-8","html":"
Also, under most circumstances, general and administrative expenses shall be included as period charges, except for the portion of such expenses that may be clearly related to production and thus constitute a part of inventory costs (product charges). Selling expenses constitute no part of inventory costs. The exclusion of all overheads from inventory costs does not constitute an accepted accounting procedure. The exercise of judgment in an individual situation involves a consideration of the adequacy of the procedures of the cost accounting system in use, the soundness of the principles thereof, and their consistent application. General and administrative expenses ordinarily shall be charged to expense as incurred.
","snippet":"Also, under most circumstances, general and administrative expenses shall be included as period charges, except for the portion of such expenses that may be clearly related to production and thus constitute a part of inv…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9297f993ac4d4ebfd94b177fd884ec1ae563280ec4cae9437ea3aff83d604423","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b2d9fb8b812a68c60a2750ee6e12abfe1bf152a888110c29952c96e86949a515","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Determination of Inventory Costs","paragraphs":[{"citation":"330-10-30-9","para":"30-9","html":"
Cost for inventory purposes may be determined under any one of several assumptions as to the flow of cost factors, such as first-in first-out (FIFO), average, and last-in first-out (LIFO). The major objective in selecting a method should be to choose the one which, under the circumstances, most clearly reflects periodic income.
","snippet":"Cost for inventory purposes may be determined under any one of several assumptions as to the flow of cost factors, such as first-in first-out (FIFO), average, and last-in first-out (LIFO). The major objective in selectin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd31f4f6495ca94c8d2ec57347581247b8c6ebe50725a70d6ba1b58d5a0afc1f","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-10","para":"30-10","html":"
The cost to be matched against revenue from a sale may not be the identified cost of the specific item which is sold, especially in cases in which similar goods are purchased at different times and at different prices. While in some lines of business specific lots are clearly identified from the time of purchase through the time of sale and are costed on this basis, ordinarily the identity of goods is lost between the time of acquisition and the time of sale.
","snippet":"The cost to be matched against revenue from a sale may not be the identified cost of the specific item which is sold, especially in cases in which similar goods are purchased at different times and at different prices. W…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:282d214ae0cacba40bc4a12c0dc7f09f6bc73562e66a7d58b67cb217a01756db","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-11","para":"30-11","html":"
Accordingly, if the materials purchased in various lots are identical and interchangeable, the use of identified cost of the various lots may not produce the most useful financial statements. This fact has resulted in the general acceptance of several assumptions with respect to the flow of cost factors such as FIFO, average, and LIFO to provide practical bases for the measurement of periodic income.
","snippet":"Accordingly, if the materials purchased in various lots are identical and interchangeable, the use of identified cost of the various lots may not produce the most useful financial statements. This fact has resulted in th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53d99b055580e4483362bfd9face4b197e7ed689ab1fa852fdacff6fd8663729","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-12","para":"30-12","html":"
Standard costs are acceptable if adjusted at reasonable intervals to reflect current conditions so that at the balance-sheet date standard costs reasonably approximate costs computed under one of the recognized bases. In such cases descriptive language shall be used which will express this relationship, as, for instance, \"approximate costs determined on the first-in first-out basis,\" or, if it is desired to mention standard costs, \"at standard costs, approximating average costs.\"
","snippet":"Standard costs are acceptable if adjusted at reasonable intervals to reflect current conditions so that at the balance-sheet date standard costs reasonably approximate costs computed under one of the recognized bases. In…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b7d57cd3e88645916133665afec6a5568674f5493d1a73d9e9ef8d72f2f76179","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-13","para":"30-13","html":"
In some situations a reversed mark-up procedure of inventory pricing, such as the retail inventory method, may be both practical and appropriate. The business operations in some cases may be such as to make it desirable to apply one of the acceptable methods of determining cost to one portion of the inventory or components thereof and another of the acceptable methods to other portions of the inventory.
","snippet":"In some situations a reversed mark-up procedure of inventory pricing, such as the retail inventory method, may be both practical and appropriate. The business operations in some cases may be such as to make it desirable …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c14fc7947a3a07d9faecf07096e056d04a9e59a10948bd58516f5549f5466841","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-14","para":"30-14","html":"
Although selection of the method should be made on the basis of the individual circumstances, financial statements will be more useful if uniform methods of inventory pricing are adopted by all entities within a given industry.
","snippet":"Although selection of the method should be made on the basis of the individual circumstances, financial statements will be more useful if uniform methods of inventory pricing are adopted by all entities within a given in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:deecb0471c3d70b32eb62079d40959de5e3a75325d5dcad09ac20e7f95263f40","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6fec4ea6f78c85e3439167e3862ff634814a371088be5eff86aef65e6a87ed86","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Consistency Required","paragraphs":[{"citation":"330-10-30-15","para":"30-15","html":"
While the basis of stating inventories does not affect the overall gain or loss on the ultimate disposition of inventory items, any inconsistency in the selection or employment of a basis may improperly affect the periodic amounts of income or loss. Because of the common use and importance of periodic statements, a procedure adopted for the treatment of inventory items shall be consistently applied in order that the results reported may be fairly allocated between years.
","snippet":"While the basis of stating inventories does not affect the overall gain or loss on the ultimate disposition of inventory items, any inconsistency in the selection or employment of a basis may improperly affect the period…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:60a757251608c334d100598ab06f3f92331ff2962c37632c4885b01d76d41bdd","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f43bb0dcf7214bc083078476a90c1c8790d171e245c4038c97fecc954708a028","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Purchases and Sales of Inventory with the Same Counterparty","paragraphs":[{"citation":"330-10-30-16","para":"30-16","html":"
For a discussion of the initial measurement of inventory purchased from an entity to which it also sells inventory in the same line of business, see paragraphs
845-10-55-10 through 55-26
.
","snippet":"For a discussion of the initial measurement of inventory purchased from an entity to which it also sells inventory in the same line of business, see paragraphs 845-10-55-10 through 55-26.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c948b87110a8db34f83ed0c3174a72bf3451c9d5d28ebd47038d4fa7b698b20f","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f576f63985846f9ebb80a45380b13ae479f0301210cde79bb4021730ece82121","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Costs Resulting from Share-Based Payment Transactions","paragraphs":[{"citation":"330-10-30-17","para":"30-17","html":"
See paragraph 718-10-25-2 for a discussion of share-based payment capitalized as a part of inventory.
","snippet":"See paragraph 718-10-25-2 for a discussion of share-based payment capitalized as a part of inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ccc669768e997925856520c08601ea02e5484200d9025c68bc05036758b45018","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:16fbba0a8f035210fe345054fd50b3312af608d63b0241f740357903e0b355f1","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed","paragraphs":[{"citation":"330-10-30-18","para":"30-18","html":"
See Sections 985-20-25 and 985-20-35 and paragraphs
985-20-55-2 through 55-3
for a discussion of accounting for the costs of producing and acquiring computer software, including software that is marketed as part of a product or process.
","snippet":"See Sections 985-20-25 and 985-20-35 and paragraphs 985-20-55-2 through 55-3 for a discussion of accounting for the costs of producing and acquiring computer software, including software that is marketed as part of a pro…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:16ee91629192aadbcfbc73a669a8cd9b8eec333c1de374d10fa366d892dae976","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"citation":"330-10-30-19","para":"30-19","html":"
Paragraph superseded by Accounting Standards Update No. 2014-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e41c3fcdc68aae41cd4dbd43775d76da5eb20fd8db73e77698718d79d2096aff","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a5cf18c85dc31b413988aaad451d79458587059ad522893612bba1e35df15297","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Costs to Fulfill a Contract with a Customer","paragraphs":[{"citation":"330-10-30-20","para":"30-20","html":"
See paragraphs
340-40-25-5 through 25-8
and paragraphs
340-40-35-1 through 35-6
for the accounting for the costs to fulfill a contract with a customer if those costs are not in the scope of another Topic.
","snippet":"See paragraphs 340-40-25-5 through 25-8 and paragraphs 340-40-35-1 through 35-6 for the accounting for the costs to fulfill a contract with a customer if those costs are not in the scope of another Topic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:228d2d5f6d6f4d131d193a0dacf2c5880be93b0a4f0570f2abde30d794b5ce6a","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2aaedaf03739f5a1d86d489d8f7904c7b34bf1e61bab9797ed5cf9c9241cdc9b","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"block":null,"heading":"Indirect Contract Costs by Government Contractors","paragraphs":[{"citation":"330-10-30-21","para":"30-21","html":"
See paragraph 912-20-25-1 for the accounting for indirect contract costs by government contractors.
","snippet":"See paragraph 912-20-25-1 for the accounting for indirect contract costs by government contractors.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:adf8f1a6e704b42908f81f6a1a0da18bc417a66b29d43bb63278702197f0f40a","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eee1d8da07ad34c32a9d0ace79b075ba09d5cc4ec462b57faa20a88f38a0df52","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e675c2187973b40e1548f7da8063eeb75a3a9447ee857a6040300fe9ff3a813","downloaded_from":"2026-09-09T23:50:46.569Z","last_downloaded_at":"2026-09-09T23:50:46.569Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482954","source_sha256":"ebc15cc6a0c989e74ee984b114791c60a78ea14367b6dd713ecd6844460bef8f"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-35-1","para":"35-1","html":"
Paragraph superseded by Accounting Standards Update No. 2015-11.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2015-11.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:86a2f8c65617e0e4d01a8d004e2a7694bc80d86ab5207534e1085960d004a35f","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-1A","para":"35-1A","html":"
The subsequent measurement of inventory depends on the cost method and is different for the following:
  1. a
    Inventory measured using any method other than last-in, first-out (LIFO) or the retail inventory method (see paragraph 330-10-35-1B)
  2. b
    Inventory measured using LIFO or the retail inventory method (see paragraphs
    330-10-35-1C through 35-7
    ).
Paragraphs
330-10-35-7A through 35-11
apply to all inventory.
","snippet":"The subsequent measurement of inventory depends on the cost method and is different for the following:\n(a) Inventory measured using any method other than last-in, first-out (LIFO) or the retail inventory method (see para…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:75d470df61da62aa17311e1245a5bfc0ca9304c626d90c5685bad4f9642b605d","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4e802cdd4a83df6cddae776aa74f30cb389ee4ef86474266e1ed77a5f7f78b97","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Inventory Measured Using Any Method Other Than LIFO or the Retail Inventory Method","paragraphs":[{"citation":"330-10-35-1B","para":"35-1B","html":"
Inventory measured using any method other than LIFO or the retail inventory method (for example, inventory measured using first-in, first-out (FIFO) or average cost) shall be measured at the lower of cost and net realizable value. When evidence exists that the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. That loss may be required, for example, due to damage, physical deterioration, obsolescence, changes in price levels, or other causes.
","snippet":"Inventory measured using any method other than LIFO or the retail inventory method (for example, inventory measured using first-in, first-out (FIFO) or average cost) shall be measured at the lower of cost and net realiza…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:952b34218b4bf90197773a215f531c9e17f930453314b8f1d22c3cb799e502d1","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:57c40f1d4976c00464df8c6d3ab38c4ea30bd6297a6628356a3d48f60ff55830","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Inventory Measured Using LIFO or the Retail Inventory Method","paragraphs":[{"citation":"330-10-35-1C","para":"35-1C","html":"
A departure from the cost basis of pricing inventory measured using LIFO or the retail inventory method is required when the utility of the goods is no longer as great as their cost. Where there is evidence that the utility of goods, in their disposal in the ordinary course of business, will be less than cost, whether due to damage, physical deterioration, obsolescence, changes in price levels, or other causes, the difference shall be recognized as a loss of the current period. This is generally accomplished by stating such goods at a lower level commonly designated as market.
","snippet":"A departure from the cost basis of pricing inventory measured using LIFO or the retail inventory method is required when the utility of the goods is no longer as great as their cost. Where there is evidence that the util…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:88fdf570e88661950c3a7d660481120130273844be41a4e5f0f10650cec55b87","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-2","para":"35-2","html":"
The cost basis of recording inventory ordinarily achieves the objective of a proper matching of costs and revenues. However, under certain circumstances cost may not be the amount properly chargeable against the revenues of future periods. A departure from cost is required in these circumstances because cost is satisfactory only if the utility of the goods has not diminished since their acquisition; a loss of utility shall be reflected as a charge against the revenues of the period in which it occurs. Thus, in accounting for inventories, a loss shall be recognized whenever the utility of goods is impaired by damage, deterioration, obsolescence, changes in price levels, or other causes. The measurement of such losses for inventory measured using LIFO or the retail inventory method shall be accomplished by applying the rule of pricing inventories at the lower of cost or market. This provides a practical means of measuring utility and thereby determining the amount of the loss to be recognized and accounted for in the current period.
","snippet":"The cost basis of recording inventory ordinarily achieves the objective of a proper matching of costs and revenues. However, under certain circumstances cost may not be the amount properly chargeable against the revenues…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee54cffbc27a37504870bc38d3cdd677076c8cd15aea8e9b0306f00da5ae46c1","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-3","para":"35-3","html":"
The rule of lower of cost or market is intended to provide a means of measuring the residual usefulness of an inventory expenditure. The term market is therefore to be interpreted as indicating utility on the inventory date and may be thought of in terms of the equivalent expenditure which would have to be made in the ordinary course at that date to procure corresponding utility.
","snippet":"The rule of lower of cost or market is intended to provide a means of measuring the residual usefulness of an inventory expenditure. The term market is therefore to be interpreted as indicating utility on the inventory d…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b0b1a1eb7dfdb650db885573922ec34290ff594c50fff3ea850c128c0a01b3c","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-4","para":"35-4","html":"
As a general guide, utility is indicated primarily by the current cost of replacement of the goods as they would be obtained by purchase or reproduction. In applying the rule, however, judgment must always be exercised and no loss shall be recognized unless the evidence indicates clearly that a loss has been sustained. There are therefore exceptions to such a standard. Replacement or reproduction prices would not be appropriate as a measure of utility when the estimated sales value, reduced by the costs of completion and disposal, is lower, in which case the realizable value so determined more appropriately measures utility.
","snippet":"As a general guide, utility is indicated primarily by the current cost of replacement of the goods as they would be obtained by purchase or reproduction. In applying the rule, however, judgment must always be exercised a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:caeeb4a461f5f55c625a0ab703e8577ae3fa7518643c7d10a83bd5b9e6e32d26","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-5","para":"35-5","html":"
Furthermore, when the evidence indicates that cost will be recovered with an approximately normal profit upon sale in the ordinary course of business, no loss shall be recognized even though replacement or reproduction costs are lower. This might be true, for example, in the case of production under firm sales contracts at fixed prices, or when a reasonable volume of future orders is assured at stable selling prices.
","snippet":"Furthermore, when the evidence indicates that cost will be recovered with an approximately normal profit upon sale in the ordinary course of business, no loss shall be recognized even though replacement or reproduction c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c4a648a2eb63501f6cf8a90fc45bc986d2f044bbc745ab84748cd0e5eccd0b9","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-6","para":"35-6","html":"
Paragraph superseded by Accounting Standards Update No. 2015-11.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2015-11.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6e2bac1b99d4be1b86e7fa6913b3783adc539b2a1ab4d1f1628ce5a723730383","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-7","para":"35-7","html":"
Because of the many variations of circumstances encountered in inventory pricing, the definition of market is intended as a guide rather than a literal rule. It shall be applied realistically in light of the objectives expressed in this Subtopic and with due regard to the form, content, and composition of the inventory. For example, the retail inventory method, if adequate markdowns are currently taken, accomplishes the objectives described herein. It is also recognized that, if a business is expected to lose money for a sustained period, the inventory shall not be written down to offset a loss inherent in the subsequent operations.
","snippet":"Because of the many variations of circumstances encountered in inventory pricing, the definition of market is intended as a guide rather than a literal rule. It shall be applied realistically in light of the objectives e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98dcabdacc5760e506266bf3812d6fc12c88244b74cd0f44e1db2e56f7b8eff6","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:beb20ba695255b06c1e3b688b24650a621cf4bbae1818c1c83e5c8a318553a0e","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Subsequent Measurement Guidance Applicable to All Inventory","paragraphs":[{"citation":"330-10-35-7A","para":"35-7A","html":"
If inventory has been the hedged item in a fair value hedge, the inventory's cost basis for purposes of subsequent measurement shall reflect the effect of the adjustments of its carrying amount made pursuant to paragraph 815-25-35-1(b).
","snippet":"If inventory has been the hedged item in a fair value hedge, the inventory's cost basis for purposes of subsequent measurement shall reflect the effect of the adjustments of its carrying amount made pursuant to paragraph…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d25d2d349bc8540d86372443060a4ffaa3d427a4cd193bcb0a7cfcd72a47735b","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-8","para":"35-8","html":"
Depending on the character and composition of the inventory, the guidance in paragraphs
330-10-35-1A through 35-7
that is applicable to the inventory being measured may properly be applied either directly to each item or to the total of the inventory (or, in some cases, to the total of the components of each major category). The method shall be that which most clearly reflects periodic income.
","snippet":"Depending on the character and composition of the inventory, the guidance in paragraphs 330-10-35-1A through 35-7 that is applicable to the inventory being measured may properly be applied either directly to each item or…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e78fa7cfb2bef2220b2d49eca539e1276010f137c6342efeeec10c7c0b0a25d6","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-9","para":"35-9","html":"
The purpose of reducing the carrying amount of inventory is to reflect fairly the income of the period. The most common practice is to apply the applicable subsequent measurement guidance separately to each item of the inventory. However, if there is only one end-product category, the application of the applicable subsequent measurement guidance to inventory in its entirety may have the greatest significance for accounting purposes. Accordingly, the remeasurement of individual items may not always lead to the most useful result if the market value (for inventory measured using LIFO or the retail inventory method) or net realizable value (for all other inventory) of the total inventory is not below its cost. This might be the case, for example, if selling prices are not affected by temporary or small fluctuations in current costs of purchase or manufacture.
","snippet":"The purpose of reducing the carrying amount of inventory is to reflect fairly the income of the period. The most common practice is to apply the applicable subsequent measurement guidance separately to each item of the i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a95485e85f71a5e191f63ecca007c59ccb2ad2345c391c4b12b83f6037ef0299","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-10","para":"35-10","html":"
Similarly, where more than one major product or operational category exists, the application of the applicable subsequent measurement guidance to the total of the items included in such major categories may result in the most useful determination of income. When no loss of income is expected to take place as a result of a reduction of cost prices of certain goods because others forming components of the same general categories of finished products have a market value (for inventory measured using LIFO or the retail inventory method) or net realizable value (for all other inventory) equally in excess of cost, such components need not be adjusted to the extent that they are in balanced quantities. Thus, in such cases, the guidance on subsequent measurement may be applied directly to the totals of the entire inventory, rather than to the individual inventory items, if they enter into the same category of finished product and if they are in balanced quantities, provided the procedure is applied consistently from year to year.
","snippet":"Similarly, where more than one major product or operational category exists, the application of the applicable subsequent measurement guidance to the total of the items included in such major categories may result in the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d51df2533df3acf842d590bb7d1107178038e50d7dc9b15ea59e8852ea31899b","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-11","para":"35-11","html":"
To the extent, however, that the stocks of particular materials or components are excessive in relation to others, the more widely recognized procedure of applying the guidance on subsequent measurement to the individual items constituting the excess shall be followed. This would also apply in cases in which the items enter into the production of unrelated products or products having a material variation in the rate of turnover. Unless an effective method of classifying categories is practicable, the rule shall be applied to each item in the inventory.
","snippet":"To the extent, however, that the stocks of particular materials or components are excessive in relation to others, the more widely recognized procedure of applying the guidance on subsequent measurement to the individual…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:792e2935a17d3832968fb4b1ee3cae8f8e66744723b3b396f11d8a9de45dd5ea","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-12","para":"35-12","html":"
See paragraphs
330-10-30-9 through 30-14
for guidance on inventory pricing methods.
","snippet":"See paragraphs 330-10-30-9 through 30-14 for guidance on inventory pricing methods.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e5fc7e91f88b782eace5bec25a15962c4b52dafd1b8ea887bd29ed3bae813b2","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9813a3e4d79ce5b37fdd6ce56d151fc92588de70b87c6158d0d1811291ba9235","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Loss Due to Sales Incentive","paragraphs":[{"citation":"330-10-35-13","para":"35-13","html":"
The offer of a sales incentive that will result in a loss on the sale of a product may indicate an impairment of existing inventory under this Subtopic.
","snippet":"The offer of a sales incentive that will result in a loss on the sale of a product may indicate an impairment of existing inventory under this Subtopic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c8ed79c1a477e0ebf88e733fd024c159b8511bc447b0c49b61c43ff48813ea67","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e53ed7c37f3bc9ce2841a4878407d31c90898f6f9bf9852f8717051c399c9700","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"New Cost Basis","paragraphs":[{"citation":"330-10-35-14","para":"35-14","html":"
In the case of goods which have been written down below cost at the close of a fiscal year, such reduced amount is to be considered the cost for subsequent accounting purposes. Paragraph 270-10-45-6 provides guidance for preparing interim financial statements.
","snippet":"In the case of goods which have been written down below cost at the close of a fiscal year, such reduced amount is to be considered the cost for subsequent accounting purposes. Paragraph 270-10-45-6 provides guidance for…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d4f387e201c9b35da1f59b26aebb6e0e1fc9a00d0cc3c6d9fc031bb7acd078fa","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:363a14a0f974252eb88d001632d0f067640c629e991c53363b18ebc1168c30d3","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Stating Inventories Above Cost","paragraphs":[{"citation":"330-10-35-15","para":"35-15","html":"
Only in exceptional cases may inventories properly be stated above cost. For example, precious metals having a fixed monetary value with no substantial cost of marketing may be stated at such monetary value; any other exceptions must be justifiable by inability to determine appropriate approximate costs, immediate marketability at quoted market price, and the characteristic of unit interchangeability.
","snippet":"Only in exceptional cases may inventories properly be stated above cost. For example, precious metals having a fixed monetary value with no substantial cost of marketing may be stated at such monetary value; any other ex…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0d92c0eaaf8af3790036b120ac725bde3d238b4cc8d9624a5dc6480982d17827","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-16","para":"35-16","html":"
It is generally recognized that income accrues only at the time of sale, and that gains may not be anticipated by reflecting assets at their current sales prices. However, exceptions for reflecting assets at selling prices are permissible for both of the following:
  1. a
    Inventories of gold and silver, when there is an effective government-controlled market at a fixed monetary value
  2. b
    Inventories representing agricultural, mineral, and other products, with all of the following criteria:
    1. 1
      Units of which are interchangeable
    2. 2
      Units of which have an immediate marketability at quoted prices
    3. 3
      Units for which appropriate costs may be difficult to obtain.
Where such inventories are stated at sales prices, they shall be reduced by expenditures to be incurred in disposal.
","snippet":"It is generally recognized that income accrues only at the time of sale, and that gains may not be anticipated by reflecting assets at their current sales prices. However, exceptions for reflecting assets at selling pric…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5ed769d55a9079d9b774e326f294152b2c29bcc4cc90406a521d9fcb310b15ec","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c63ed7b2720725f9de47c5303a2b04588fb32b818c2e7359af3b9b1dd58d2440","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Purchase Commitments","paragraphs":[{"citation":"330-10-35-17","para":"35-17","html":"
A net loss on firm purchase commitments for goods for inventory, measured in the same way as are inventory losses, shall be recognized in the accounts. The recognition in a current period of losses arising from the decline in the utility of cost expenditures is equally applicable to similar losses which are expected to arise from firm, uncancelable, and unhedged commitments for the future purchase of inventory items.
","snippet":"A net loss on firm purchase commitments for goods for inventory, measured in the same way as are inventory losses, shall be recognized in the accounts. The recognition in a current period of losses arising from the decli…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:553ba7bd6679e11212205d9363c13a6e6f1a4eb8680b37eba81dc3bbe0d13c70","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-18","para":"35-18","html":"
The utility of such commitments is not impaired, and hence there is no loss, when the amounts to be realized from the disposition of the future inventory items are adequately protected by firm sales contracts or when there are other circumstances that reasonably assure continuing sales without price decline.
","snippet":"The utility of such commitments is not impaired, and hence there is no loss, when the amounts to be realized from the disposition of the future inventory items are adequately protected by firm sales contracts or when the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40ef6eb7ea60cd47d6fa6ada67c0f8a4f6f563773dcf76a50dbb079be1883773","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a99682984c1c9a273acaa18f136680990b414214f8bf2eba5e56782dcbaf65e","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Accounting Changes","paragraphs":[{"citation":"330-10-35-19","para":"35-19","html":"
Paragraph 250-10-55-1 explains that a change in composition of the elements of cost included in inventory is an accounting change and provides related guidance.
","snippet":"Paragraph 250-10-55-1 explains that a change in composition of the elements of cost included in inventory is an accounting change and provides related guidance.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76384cf8ecd0f7710d4a182d6b1c634639fbce04b89117dcfdb9f53aca3900d9","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"citation":"330-10-35-20","para":"35-20","html":"
The definition of direct effects of a change in accounting principle includes a change in inventory valuation methods as an accounting change.
","snippet":"The definition of direct effects of a change in accounting principle includes a change in inventory valuation methods as an accounting change.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26b0329b9de70ffe98f1da5400140d83e6b0ff42d85e9c1bd0375f06812d808e","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38fe44722f4a3e36b4de0df6ba9aed40b7be2a97092dd256ebad3f9c8911773d","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Accounting for Consideration Payable to a Customer","paragraphs":[{"citation":"330-10-35-21","para":"35-21","html":"
See paragraphs
606-10-32-25 through 32-27
for a discussion of consideration given by an entity to a customer.
","snippet":"See paragraphs 606-10-32-25 through 32-27 for a discussion of consideration given by an entity to a customer.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e38138e3ae4c907e699f5854b8d443eecb3b9e9e3fd895ddb7c038e22655d0b1","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e3fbfcf4de50c1d504bdbedd063a768d4676dff1badc4debc9ee3251a1ce5309","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Accounting for Consideration Received from a Vendor","paragraphs":[{"citation":"330-10-35-22","para":"35-22","html":"
See Subtopic 705-20 on costs of sales and services for a discussion of accounting by an entity, that is, a customer (including a reseller) for, for consideration received from a vendor.
","snippet":"See Subtopic 705-20 on costs of sales and services for a discussion of accounting by an entity, that is, a customer (including a reseller) for, for consideration received from a vendor.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0117f03b6b90e25e29c503b5bfde53b4c4be12e2b8ceb8149cd404b8af8c08a7","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a2e5398229124a9257288dd87aabe1e51d7d36da09029597967faeaf5de5047","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"block":null,"heading":"Interim Financial Reporting","paragraphs":[{"citation":"330-10-35-23","para":"35-23","html":"
See paragraph 270-10-45-6 for a discussion of practices used in determining costs of inventory on an interim basis.
","snippet":"See paragraph 270-10-45-6 for a discussion of practices used in determining costs of inventory on an interim basis.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ff6547f4ab3c509b0e4693a6c18ad16b7cf06446bd9b301a0e90f52b0b6852f","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f18646f07ae783d522bddf3f035d70073f43f1c25025bdb7c34d44011abb0ac","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c26d868a55d7fd57d54f4645713896dfef73e0ea2b3d94f1270f491b23c240a","downloaded_from":"2026-09-09T23:50:48.239Z","last_downloaded_at":"2026-09-09T23:50:48.239Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482933","source_sha256":"a4def5d85aaa1dbe36bbc3deb9098e14d9052c4081acb73031b320eec7ba15c9"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Change in Composition Is Accounting Change","paragraphs":[{"citation":"330-10-45-1","para":"45-1","html":"
See paragraph 330-10-35-19 for guidance on dealing with the effects of an accounting change resulting from a change in elements of cost included in inventory.
","snippet":"See paragraph 330-10-35-19 for guidance on dealing with the effects of an accounting change resulting from a change in elements of cost included in inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3836353150c11c4ff50b439dc52767e657612aa25262cb16ca0d794a87aae36f","downloaded_from":"2026-09-09T23:50:49.927Z","last_downloaded_at":"2026-09-09T23:50:49.927Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483109","source_sha256":"2164690aa8703576e9ab80d68b8c269995fb32444219c2ef9ad2853f223eb5ac"}},{"citation":"330-10-45-2","para":"45-2","html":"
Paragraph superseded by Accounting Standards Update No. 2014-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1a5b276dc47473f8a5eab55570583ef5f787b273918e92aefe7887985d880bb7","downloaded_from":"2026-09-09T23:50:49.927Z","last_downloaded_at":"2026-09-09T23:50:49.927Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483109","source_sha256":"2164690aa8703576e9ab80d68b8c269995fb32444219c2ef9ad2853f223eb5ac"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe00bfbd2382d8f167337cfe8ed31cbfcd0b9ab4f27550b78b353ef2679ceb18","downloaded_from":"2026-09-09T23:50:49.927Z","last_downloaded_at":"2026-09-09T23:50:49.927Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483109","source_sha256":"2164690aa8703576e9ab80d68b8c269995fb32444219c2ef9ad2853f223eb5ac"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8056a76406a5a1fb486746100e4384fa7b9664d674b3cc1ddb89b3f716bebe03","downloaded_from":"2026-09-09T23:50:49.927Z","last_downloaded_at":"2026-09-09T23:50:49.927Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483109","source_sha256":"2164690aa8703576e9ab80d68b8c269995fb32444219c2ef9ad2853f223eb5ac"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Basis for Stating Inventories","paragraphs":[{"citation":"330-10-50-1","para":"50-1","html":"
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.
","snippet":"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,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b05c136435bd0cff6d6e83d4d13fa7e6ed485ef8394d0d70234103e4f537a930","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe90a1409315600b925fdb05268b046fa7b84bd95a927a0462705f26b8b75a9e","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"block":null,"heading":"Losses from the Subsequent Measurement of Inventory","paragraphs":[{"citation":"330-10-50-2","para":"50-2","html":"
Substantial and unusual losses that result from the subsequent measurement of inventory (see paragraphs
330-10-35-1A through 35-11
) should be disclosed in the financial statements.
","snippet":"Substantial and unusual losses that result from the subsequent measurement of inventory (see paragraphs 330-10-35-1A through 35-11) should be disclosed in the financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f13078a9cc9aca82e6fae2d57a8abb87fa9f0a8c54560875d5395b92d45b0b8d","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da4a970a858db419141547fbfddcadf6c85fd45423fed17c06b01b2d486a9f29","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"block":null,"heading":"Goods Stated Above Cost","paragraphs":[{"citation":"330-10-50-3","para":"50-3","html":"
Where goods are stated above cost this fact shall be fully disclosed.
","snippet":"Where goods are stated above cost this fact shall be fully disclosed.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c328f9d9919a270f9854c2b09d7a68a6e8b2ceb4fee275e3a0cf8c63aad80a5e","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a693ec77efc1c1f09a5508983f652d4d1347e10deddb0227887d773efd933602","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"block":null,"heading":"Stating Inventories at Sales Prices","paragraphs":[{"citation":"330-10-50-4","para":"50-4","html":"
Where such inventories are stated at sales prices, the use of such basis shall be fully disclosed in the financial statements.
","snippet":"Where such inventories are stated at sales prices, the use of such basis shall be fully disclosed in the financial statements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4b96e452254c6fe41a6c1848347eeca6cb8986e011661da61b97542610a6d86d","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c3c1e38e8996a1cd309c2f3f14101ffb742510551d0f7458906dfee12ea7aa6e","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"block":null,"heading":"Losses on Firm Purchase Commitments","paragraphs":[{"citation":"330-10-50-5","para":"50-5","html":"
The amounts of net losses on firm purchase commitments accrued under paragraph 330-10-35-17 shall be disclosed separately in the income statement.
Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:
220-40-65-1The amounts of net losses on firm purchase commitments accrued under paragraph 330-10-35-17 shall be disclosed separately in the income statement. See paragraphs
220-40-50-21 through 50-25
for additional disclosure requirements.
","snippet":"The amounts of net losses on firm purchase commitments accrued under paragraph 330-10-35-17 shall be disclosed separately in the income statement. Transition date:(P) December 16, 2026; (N) December 16, 2026Transition gu…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e16fd56d06401de57917d210c435da9cfec79c8ca5760509225f20df626ef912","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d851c6b1999b6ca8ee0fc4f65758458bbaf99a414d273391134943938dc79c6b","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"block":null,"heading":"Disclosure of Significant Estimates","paragraphs":[{"citation":"330-10-50-6","para":"50-6","html":"
See Example 1 (paragraph 330-10-55-8) for an illustration of the disclosure of significant estimates applicable to inventories as required by Section 275-10-50.
","snippet":"See Example 1 (paragraph 330-10-55-8) for an illustration of the disclosure of significant estimates applicable to inventories as required by Section 275-10-50.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a1e3f47e54c46fdd4ffb498926935dcda6e8986a4ca0306c801189c2f2a4fe3","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7f1acf36d34e0d8254d130b9f70238eff035cf7070a36c9b85729020744c53f5","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38f09360d2a43bc75833eec266a734ac69ce27b2cc0957973d2c28f4041ea049","downloaded_from":"2026-09-09T23:50:51.981Z","last_downloaded_at":"2026-09-09T23:50:51.981Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483080","source_sha256":"06784cf2131539f6683983dcd1184719249a59998b634ad31a07db92b656ca15"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-55-1","para":"55-1","html":"
This Section, which is an integral part of the requirements of this Topic, provides general guidance to be used in accounting for inventory. Certain assumptions have been made to simplify the computations and focus on the issue at hand in each illustration.
","snippet":"This Section, which is an integral part of the requirements of this Topic, provides general guidance to be used in accounting for inventory. Certain assumptions have been made to simplify the computations and focus on th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:613957398de308d5d689249e013fd482b5e6696b6d05431dc53467b3ce45ee36","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d86722285882926dc4282b8f092d32c7c8e92068c7267cda8450781cc13f23f6","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"330-10-55-2","para":"55-2","html":"
If near-term price recovery is uncertain, a decline in the market value (for inventory measured using LIFO or the retail inventory method) or net realizable value (for all other inventory) of inventory below cost during an interim period shall be accounted for consistent with annual periods, except as described in paragraph 270-10-45-6.
  1. a
    Subparagraph superseded by Accounting Standards Update No. 2015-11.
  2. b
    Subparagraph superseded by Accounting Standards Update No. 2015-11.
","snippet":"If near-term price recovery is uncertain, a decline in the market value (for inventory measured using LIFO or the retail inventory method) or net realizable value (for all other inventory) of inventory below cost during …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0b4ad80ad03189855caac18e69687d2a62f14e846e9e60e28221036ea151b0ff","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-3","para":"55-3","html":"
The following provides guidance as to whether the types of costs that are required to be allocated to inventories for tax purposes under the Uniform Capitalization Rules for Inventory under the Tax Reform Act of 1986 would be capitalizable under generally accepted accounting principles (GAAP) and, if so, whether the costing method required for tax purposes is a preferable method for purposes of justifying a change in accounting principle.
","snippet":"The following provides guidance as to whether the types of costs that are required to be allocated to inventories for tax purposes under the Uniform Capitalization Rules for Inventory under the Tax Reform Act of 1986 wou…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bad09ce8042007a4934688238168f8176243309efda806532c5405e82c307c8a","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-4","para":"55-4","html":"
The fact that a cost is capitalizable for tax purposes does not, in itself, indicate that it is preferable, or even appropriate, to capitalize that cost for financial reporting purposes. Certain of the additional costs that are required to be capitalized for tax purposes may also be capitalizable for financial reporting purposes, depending on factors such as the nature of the entity's operation and industry practice. That determination, however, can only be made after an analysis of the individual facts and circumstances.
","snippet":"The fact that a cost is capitalizable for tax purposes does not, in itself, indicate that it is preferable, or even appropriate, to capitalize that cost for financial reporting purposes. Certain of the additional costs t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7bee60da281d43eb68966635314e6d3c78f9db52126cfaccd41c0c825d3637fc","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-5","para":"55-5","html":"
Paragraph superseded by Accounting Standards Update No. 2017-07.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2017-07.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed85d5cdd0989705f439341ccacc0edafa132c163b4c0739281daa61b77258aa","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-6","para":"55-6","html":"
Paragraph superseded by Accounting Standards Update No. 2017-07.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2017-07.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e9d2085729f55a63d77680152e1638931d776687347753cc2b983dcfd106f30e","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-6A","para":"55-6A","html":"
The service cost component of net periodic pension cost and net periodic postretirement benefit cost is the only component directly arising from employees' services provided in the current period. Therefore, when it is appropriate to capitalize employee compensation in connection with the construction or production of an asset, the service cost component applicable to the pertinent employees for the period is the relevant amount to be considered for capitalization.
","snippet":"The service cost component of net periodic pension cost and net periodic postretirement benefit cost is the only component directly arising from employees' services provided in the current period. Therefore, when it is a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e32cb0393869c016e8eea6676dc7eba47329ea9c8f1cd678ae427c23fcf9fb7a","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-7","para":"55-7","html":"
Paragraph superseded by Accounting Standards Update No. 2017-07.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2017-07.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2e73a31adde2651d6742b780e10812f8c1ac412cdbc9067a70d78139901d4cd","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:12c172fefbb15d2d8e4fcc3aebb0c2a6447031f5c43277429c9d4ad70dfc2b6b","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"330-10-55-8","para":"55-8","html":"
This Example illustrates the guidance in paragraph 330-10-50-6 regarding the disclosure of significant estimates related to inventory. Entity A manufactures high technology stereo equipment. In June 19X7, one of Entity A's competitors introduced a new model stereo system with the same features as Entity A's Model A. The competitor's version sells for significantly less than Entity A's suggested retail price for Model A. The introduction of this product resulted in a sharp decrease in the sales volume of Model A. As of December 31, 19X7, Entity A has accumulated significant inventory quantities beyond its normal short-term needs of its Model A system. Inventory for Model A ($6 million) represents approximately 20 percent of Entity A's inventory at that date. The remaining 80 percent of Entity A's inventory consists of products experiencing only normal competitive pressures. Entity A has established provisions for obsolescence for this latter group of products in the normal course of business.
","snippet":"This Example illustrates the guidance in paragraph 330-10-50-6 regarding the disclosure of significant estimates related to inventory. Entity A manufactures high technology stereo equipment. In June 19X7, one of Entity A…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:68f2cce41209beec586bb21344aeef28bddefbdafec3857027bf888f3f751713","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-9","para":"55-9","html":"
Management has developed a program to provide substantial dealer incentives on purchases of the Model A, which it expects will result in the sale of this inventory in the near term. Because of the existing high profit margin on its stereo systems, Entity A would continue to earn a marginal profit on sales of the Model A under the new program. It is also reasonably possible, however, that the program will not be wholly successful, and, accordingly, a material loss could ultimately result on the disposal of the inventory.
","snippet":"Management has developed a program to provide substantial dealer incentives on purchases of the Model A, which it expects will result in the sale of this inventory in the near term. Because of the existing high profit ma…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1349289d71460d11ffd57b2513cf2643648f2e880c84196458a13af606e16578","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-10","para":"55-10","html":"
The entity would disclose the following.
","snippet":"The entity would disclose the following.\nAs of December 31, 19X7, some portion of $6 million of inventory of one of the entity's products is in excess of Entity A's current requirements based on the recent level of sales…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4744e27b858ca10180671b84d4517e02fe037ab8488c373e1247aafb8eb6e5b7","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-11","para":"55-11","html":"
This situation meets the criteria for disclosure under paragraph 275-10-50-8 because circumstances that existed at the date of the financial statements, including the decreasing sales volume and excessive quantities of inventory of Model A, make it at least reasonably possible that management's plan to liquidate its excess inventory without a loss will be less than fully successful and that such an outcome would have a near-term material effect on the entity's financial statements.
","snippet":"This situation meets the criteria for disclosure under paragraph 275-10-50-8 because circumstances that existed at the date of the financial statements, including the decreasing sales volume and excessive quantities of i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22839f76360ae094774a7ec3771f698edbc30b539ed4b92bf20f5e715298380b","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-12","para":"55-12","html":"
In this Example, Entity A discloses the existence of potentially excess quantities of inventory at the date of the financial statements and indicates that the uncertainty is expected to be resolved in the near term. The disclosure is intended to provide users with insight into management's assessment of recoverability of the cost of inventories existing at the date of the financial statements. Although disclosure of the $6 million carrying amount of the inventory of Model A is not required because, based on the facts presented, $6 million does not constitute a reasonable estimate of loss on the disposal of the inventory or the maximum amount in an estimated range of loss, disclosure of this amount is not misleading and may provide useful information.
","snippet":"In this Example, Entity A discloses the existence of potentially excess quantities of inventory at the date of the financial statements and indicates that the uncertainty is expected to be resolved in the near term. The …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:df828d24e1dfd6c97df2fc1ee90f45ae7bb316d80f1fe5726c4591b19fb351a7","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"citation":"330-10-55-13","para":"55-13","html":"
Discussion of Entity A's provision for obsolescence for the remaining 80 percent of its inventory is not required because it is not considered reasonably possible that additional material losses on this inventory will occur.
","snippet":"Discussion of Entity A's provision for obsolescence for the remaining 80 percent of its inventory is not required because it is not considered reasonably possible that additional material losses on this inventory will oc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f7cead5a6eb8e782ba4e44761e6629dcc813c5b0589a7f067261e621ba1523b4","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac0e935f1c9ecc7b77d1ba2f594f50764f307c328bace990f87d0607b014124f","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:db93578e3e072edec46122e2781f91ffdf34290a562c3184a5e9fadbdf75689a","downloaded_from":"2026-09-09T23:50:55.858Z","last_downloaded_at":"2026-09-09T23:50:55.858Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483055","source_sha256":"7f141638d538f9e1f305c382a52961fab810930f95c0ba22bc55134bf3e2cf94"}},{"number":"65","label":"65 Transition and Open Effective Date Information","anchor":"65-transition-and-open-effective-date-information","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-65-1","para":"65-1","html":"
Paragraph superseded on 06/20/2018 after the end of the transition period stated in Accounting Standards Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory.
","snippet":"Paragraph superseded on 06/20/2018 after the end of the transition period stated in Accounting Standards Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:993126433434d44a2c759c644e801523e1ddbd25a16950fa48aea768064a785f","downloaded_from":"2026-09-09T23:50:59.127Z","last_downloaded_at":"2026-09-09T23:50:59.127Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483030","source_sha256":"1ae171e00f1f2379a5cf28463f1824d0a3cb37037e54bf7453c904a0e4aabea9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:72ee21786b6e3661a7d6bcb7ffcdffcd116a1fe3468c46fc5b40491ee8f065be","downloaded_from":"2026-09-09T23:50:59.127Z","last_downloaded_at":"2026-09-09T23:50:59.127Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483030","source_sha256":"1ae171e00f1f2379a5cf28463f1824d0a3cb37037e54bf7453c904a0e4aabea9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2623fc27dde404338cabc7e2585a66380d98bb829fb43985402cbb86310de51","downloaded_from":"2026-09-09T23:50:59.127Z","last_downloaded_at":"2026-09-09T23:50:59.127Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483030","source_sha256":"1ae171e00f1f2379a5cf28463f1824d0a3cb37037e54bf7453c904a0e4aabea9"}},{"number":"S00","label":"SEC 00 Status","anchor":"sec-00-status","is_sec":true,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-10-S00-1","para":"S00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
330-10-S35-2AmendedAccounting Standards Update No. 2009-0709/15/2009
330-10-S99-1AmendedAccounting Standards Update No. 2012-0308/27/2012
330-10-S99-2AmendedAccounting Standards Update No. 2012-0308/27/2012
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n|\n330-10-S35-2 | Amended | Accounting Standards Update No. 2009-07 | 09/15/2009 |\n330-10-S99-1 |…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bfaeb259264776c438a5fdfaef7f300ed9c1619b5b0c2035dcca8dcd8c13d6c5","downloaded_from":"2026-09-09T23:51:04.651Z","last_downloaded_at":"2026-09-09T23:51:04.651Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480356","source_sha256":"9338cc464ef0a9a2517a992914322d3000f261143bd83ec8ee8db18498e708a3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:966b48fb518e931f67acbca0c549eaf40db03625306607d705076c245473c879","downloaded_from":"2026-09-09T23:51:04.651Z","last_downloaded_at":"2026-09-09T23:51:04.651Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480356","source_sha256":"9338cc464ef0a9a2517a992914322d3000f261143bd83ec8ee8db18498e708a3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdc3f80e6f4b7db1cc309ad377aa0529473e0b9ab436af720ecba6a211ebc37a","downloaded_from":"2026-09-09T23:51:04.651Z","last_downloaded_at":"2026-09-09T23:51:04.651Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480356","source_sha256":"9338cc464ef0a9a2517a992914322d3000f261143bd83ec8ee8db18498e708a3"}},{"number":"S35","label":"SEC 35 Subsequent Measurement","anchor":"sec-35-subsequent-measurement","is_sec":true,"groups":[{"block":null,"heading":"Restoration of Previously Written-Down Inventory Value","paragraphs":[{"citation":"330-10-S35-1","para":"S35-1","html":"
See paragraph 330-10-S99-2, SAB Topic 5.BB, for SEC Staff views on restoration of inventory value following a previous write-down to lower of cost or market.
","snippet":"See paragraph 330-10-S99-2, SAB Topic 5.BB, for SEC Staff views on restoration of inventory value following a previous write-down to lower of cost or market.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:611987f380ac2ab5c06229733e6593d46c9ebd934bdfe70f4bbf547afdadacc0","downloaded_from":"2026-09-09T23:51:08.071Z","last_downloaded_at":"2026-09-09T23:51:08.071Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480325","source_sha256":"55c2b7584e58a9f68ec3c85cf113ba0350ee04c09358ce35300c092707915e4a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:966d39d2669decf8d323cfe0e6e48f3e79fa01150851062196517823e53c9904","downloaded_from":"2026-09-09T23:51:08.071Z","last_downloaded_at":"2026-09-09T23:51:08.071Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480325","source_sha256":"55c2b7584e58a9f68ec3c85cf113ba0350ee04c09358ce35300c092707915e4a"}},{"block":null,"heading":"Classification of Inventory Markdowns and Other Costs Associated with a Restructuring","paragraphs":[{"citation":"330-10-S35-2","para":"S35-2","html":"
See paragraph 420-10-S99-3, SEC Observer Comment: Classification of Inventory Markdowns and Other Costs Associated with Restructuring, for SEC Staff views on income statement classification of inventory markdowns associated with a restructuring.
","snippet":"See paragraph 420-10-S99-3, SEC Observer Comment: Classification of Inventory Markdowns and Other Costs Associated with Restructuring, for SEC Staff views on income statement classification of inventory markdowns associa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5a504aa73dd92d8e2aa2d6cb3ea881bbae50735031ff55f1410068312b8c29ba","downloaded_from":"2026-09-09T23:51:08.071Z","last_downloaded_at":"2026-09-09T23:51:08.071Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480325","source_sha256":"55c2b7584e58a9f68ec3c85cf113ba0350ee04c09358ce35300c092707915e4a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:858f4b46902533a076b53763b727f29cc3629ea5e3eaab2a29e7b8708aaaef04","downloaded_from":"2026-09-09T23:51:08.071Z","last_downloaded_at":"2026-09-09T23:51:08.071Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480325","source_sha256":"55c2b7584e58a9f68ec3c85cf113ba0350ee04c09358ce35300c092707915e4a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ed60e9315c0263b218569b15f07d57a2810e297eff52d98a8afc33600b913b6","downloaded_from":"2026-09-09T23:51:08.071Z","last_downloaded_at":"2026-09-09T23:51:08.071Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480325","source_sha256":"55c2b7584e58a9f68ec3c85cf113ba0350ee04c09358ce35300c092707915e4a"}},{"number":"S45","label":"SEC 45 Other Presentation Matters","anchor":"sec-45-other-presentation-matters","is_sec":true,"groups":[{"block":null,"heading":"Separate Presentation of Classes of Inventory","paragraphs":[{"citation":"330-10-S45-1","para":"S45-1","html":"
See paragraph 210-10-S99-1, Regulation S-X Rule 5-02.6, for requirements for inventory presentation on the balance sheet.
","snippet":"See paragraph 210-10-S99-1, Regulation S-X Rule 5-02.6, for requirements for inventory presentation on the balance sheet.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:12ecefb984489a86166b10cd4037f1aa82832e77c0a8bae825043cbc045e88ef","downloaded_from":"2026-09-09T23:51:10.448Z","last_downloaded_at":"2026-09-09T23:51:10.448Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480298","source_sha256":"ab2f3d85e4d5bb6f48663e44182043cf9467c808ffb0b4c3bd57e4c8cc5df529"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1dd04ce91de6f6af5602637a783f2da3ed57c5bc4b4ab8852aee363559363980","downloaded_from":"2026-09-09T23:51:10.448Z","last_downloaded_at":"2026-09-09T23:51:10.448Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480298","source_sha256":"ab2f3d85e4d5bb6f48663e44182043cf9467c808ffb0b4c3bd57e4c8cc5df529"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:02f70d5a541ca0ffbd72a4c433ccb0e7513724d6a2d4df0baa585f4124e2c687","downloaded_from":"2026-09-09T23:51:10.448Z","last_downloaded_at":"2026-09-09T23:51:10.448Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480298","source_sha256":"ab2f3d85e4d5bb6f48663e44182043cf9467c808ffb0b4c3bd57e4c8cc5df529"}},{"number":"S50","label":"SEC 50 Disclosure","anchor":"sec-50-disclosure","is_sec":true,"groups":[{"block":null,"heading":"Inventory Disclosure Requirements","paragraphs":[{"citation":"330-10-S50-1","para":"S50-1","html":"
See paragraph 210-10-S99-1, Regulation S-X Rules 5-02.6(b) through (d), for inventory disclosure requirements.
","snippet":"See paragraph 210-10-S99-1, Regulation S-X Rules 5-02.6(b) through (d), for inventory disclosure requirements.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dda3f747ef303129b99a3bf100070dcd6f13b4e8430de10bcccc748f657aca16","downloaded_from":"2026-09-09T23:51:13.083Z","last_downloaded_at":"2026-09-09T23:51:13.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480267","source_sha256":"7320199debcc5d52c55263e85b2ead0d35dff15b9a09a180c343f907728fd8aa"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da236dc64b2f6aca52cb38db58417495e0b229f139c4fcd71627ca740b4e83a7","downloaded_from":"2026-09-09T23:51:13.083Z","last_downloaded_at":"2026-09-09T23:51:13.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480267","source_sha256":"7320199debcc5d52c55263e85b2ead0d35dff15b9a09a180c343f907728fd8aa"}},{"block":null,"heading":"LIFO Liquidations","paragraphs":[{"citation":"330-10-S50-2","para":"S50-2","html":"
See paragraph 330-10-S99-3, SAB Topic 11.F, for SEC Staff views on disclosure of income realized as a result of a last-in, first-out (LIFO) liquidation.
","snippet":"See paragraph 330-10-S99-3, SAB Topic 11.F, for SEC Staff views on disclosure of income realized as a result of a last-in, first-out (LIFO) liquidation.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:543b733917c28ade021c8808c85e770937654749cc68a83d61de5a3d4758ff0a","downloaded_from":"2026-09-09T23:51:13.083Z","last_downloaded_at":"2026-09-09T23:51:13.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480267","source_sha256":"7320199debcc5d52c55263e85b2ead0d35dff15b9a09a180c343f907728fd8aa"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c90f779ec14a5ffd6a966769509fde4c192ca6412d9dcd282beea8b025416e47","downloaded_from":"2026-09-09T23:51:13.083Z","last_downloaded_at":"2026-09-09T23:51:13.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480267","source_sha256":"7320199debcc5d52c55263e85b2ead0d35dff15b9a09a180c343f907728fd8aa"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d068aaa667f784d7939a6059e11aae6098e8c97cd6db34df0c1ebe6d77dbd24","downloaded_from":"2026-09-09T23:51:13.083Z","last_downloaded_at":"2026-09-09T23:51:13.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480267","source_sha256":"7320199debcc5d52c55263e85b2ead0d35dff15b9a09a180c343f907728fd8aa"}},{"number":"S55","label":"SEC 55 Implementation Guidance and Illustrations","anchor":"sec-55-implementation-guidance-and-illustrations","is_sec":true,"groups":[{"block":null,"heading":"LIFO Inventory Practices","paragraphs":[{"citation":"330-10-S55-1","para":"S55-1","html":"
See paragraph 330-10-S99-1, SAB Topic 5.L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices.
","snippet":"See paragraph 330-10-S99-1, SAB Topic 5.L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da66a936a84b9969a5f70d47d3abb1f06ab18f17f94fc69300c264d95e528534","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e4d99a89f139aba8a1f0f1fa45686f23b4be099e957de5edbb2ebb0f1fd55d56","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67a424d19b324c31db65fe2a39d7f10127c49eecc03f84c9ca16ab7b107ed263","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}},{"number":"S99","label":"SEC 99 SEC Materials","anchor":"sec-99-sec-materials","is_sec":true,"groups":[{"block":null,"heading":"SEC Staff Guidance","paragraphs":[{"citation":"330-10-S99-1","para":"S99-1","html":"
The following is the text of SAB Topic 5.L, LIFO Inventory Practices.
","snippet":"The following is the text of SAB Topic 5.L, LIFO Inventory Practices.\nFacts: On November 30, 1984, AcSEC and its Task Force on LIFO Inventory Problems (task force) issued a paper, \"Identification and Discussion of Certai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:69dbfb876f7bd5a8088b559b7bb01460260105826acb4e3613dc2884afd50ef6","downloaded_from":"2026-09-09T23:51:21.227Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480581","source_sha256":"ed4fef1e8aa9921399bc2f33a084879cf1dd57bd85a8db9eb1ef006b76d9bb62"}},{"citation":"330-10-S99-2","para":"S99-2","html":"
The following is the text of SAB Topic 5.BB, Inventory Valuation Allowance.
","snippet":"The following is the text of SAB Topic 5.BB, Inventory Valuation Allowance.\nFacts: FASB ASC paragraph 330-10-35-1 (Inventory Topic), specifies that: \"[a] departure from the cost basis of pricing the inventory is required…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fd60deef912410b10c73b0b66a99ea3ad157ece3349e28e3e4a5b484fcc64810","downloaded_from":"2026-09-09T23:51:21.227Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480581","source_sha256":"ed4fef1e8aa9921399bc2f33a084879cf1dd57bd85a8db9eb1ef006b76d9bb62"}},{"citation":"330-10-S99-3","para":"S99-3","html":"
The following is the text of SAB Topic 11.F, LIFO Liquidations.
","snippet":"The following is the text of SAB Topic 11.F, LIFO Liquidations.\nFacts: Registrant on LIFO basis of accounting liquidates a substantial portion of its LIFO inventory and as a result includes a material amount of income in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b84308d6f41e9e381d79b257a652b9997729e710ed0961d4810032f2703476f","downloaded_from":"2026-09-09T23:51:21.227Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480581","source_sha256":"ed4fef1e8aa9921399bc2f33a084879cf1dd57bd85a8db9eb1ef006b76d9bb62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8313990dc90ae7a7f162db55d7f4ab98879f5847d9f251d72da858c7776809f","downloaded_from":"2026-09-09T23:51:21.227Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480581","source_sha256":"ed4fef1e8aa9921399bc2f33a084879cf1dd57bd85a8db9eb1ef006b76d9bb62"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9c410604e70bd615546ca076dc5f830bf3e49a0c942d959abff6d42f63050255","downloaded_from":"2026-09-09T23:51:21.227Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480581","source_sha256":"ed4fef1e8aa9921399bc2f33a084879cf1dd57bd85a8db9eb1ef006b76d9bb62"}}],"enrichment":{"summary":"ASC 330-10 governs the accounting for inventory: inventory is initially measured at cost (all expenditures and charges, direct and indirect, incurred to bring an article to its existing condition and location), with fixed production overhead allocated based on normal capacity and unallocated overhead, abnormal freight, handling, and spoilage expensed as incurred. Cost may be assigned using FIFO, average cost, LIFO, standard cost, or the retail inventory method, chosen to most clearly reflect periodic income and applied consistently. Subsequent measurement is bifurcated: inventory measured under LIFO or the retail inventory method uses lower of cost or market, while all other inventory (FIFO, average cost) uses lower of cost and net realizable value.","key_points":["Inventory's primary basis of accounting is cost — the sum of applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location (330-10-30-1).","Fixed production overhead is allocated based on the normal capacity of production facilities; the per-unit allocation may not be increased because of abnormally low production or idle plant, and unallocated overheads are expensed in the period incurred (330-10-30-6 through 30-7).","Abnormal freight, handling costs, spoilage, general and administrative expenses (except portions clearly related to production), and all selling expenses are period charges, not inventory costs (330-10-30-7 through 30-8).","Cost flow assumptions (FIFO, average, LIFO), standard costs adjusted at reasonable intervals, and the retail inventory method are all acceptable; the method chosen should most clearly reflect periodic income and be applied consistently (330-10-30-9, 30-12, 30-15).","Inventory measured using any method other than LIFO or the retail inventory method is measured at the lower of cost and net realizable value, with any excess of cost recognized as a loss in earnings in the period it occurs (330-10-35-1B).","Inventory measured using LIFO or the retail inventory method is subject to the lower of cost or market rule, where market is generally current replacement cost but is capped at net realizable value and floored by NRV less a normal profit margin — no loss is recognized if cost will be recovered with an approximately normal profit (330-10-35-1C through 35-5).","A write-down establishes a new cost basis that may not be reversed (330-10-35-14); net losses on firm, uncancelable, unhedged purchase commitments must be accrued and disclosed separately in the income statement (330-10-35-17, 330-10-50-5); inventory may be stated above cost only in exceptional cases such as precious metals with a government-controlled fixed market or certain interchangeable agricultural and mineral products (330-10-35-15 through 35-16)."],"categories":["Inventory and PP&E","Initial measurement","Subsequent measurement","Impairment"],"audience_level":"introductory","student_note":"The most tested trap is the post-ASU 2015-11 split: LIFO and retail-method inventories still use \"lower of cost or market\" (with the replacement-cost ceiling/floor analysis), while FIFO and average-cost inventories use the simpler \"lower of cost and net realizable value.\" Also remember that a write-down creates a new cost basis — under U.S. GAAP it is not reversed if value recovers (330-10-35-14).","related_topics":["270-10","340-40","705-20","845-10","815-25","250-10"],"key_concepts":["inventory cost","normal capacity","fixed production overhead allocation","lower of cost and net realizable value","lower of cost or market","cost flow assumptions (fifo, lifo, average)","retail inventory method","firm purchase commitment losses"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5b735835be38486c9497223781d7fbc7f5a40e60ba4c5c3889d1487b5bdb3a02","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"250-10","title":"Overall","topic_title":"Accounting Changes and Error Corrections","score":0.8358,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a005864f92abcca6a891cd6dcf6de06de3508579de2695602fd3831b86d3c995","downloaded_from":"2026-09-09T23:16:57.725Z","last_downloaded_at":"2026-09-09T23:17:32.360Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"505-10","title":"Overall","topic_title":"Equity","score":0.7452,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcc1e5e86daf36bf004db6dc2fcfbdb9e273f2dedaabd00bc8871bf2f7ea1734","downloaded_from":"2026-09-10T00:36:31.592Z","last_downloaded_at":"2026-09-10T00:37:26.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-10","title":"Overall","topic_title":"Property, Plant, and Equipment","score":0.7397,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1af49bb0b0a6a8091aba277d5e2666a628493942a038eb98f1fcec592bb2efc0","downloaded_from":"2026-09-10T00:05:35.818Z","last_downloaded_at":"2026-09-10T00:06:33.252Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"420-10","title":"Overall","topic_title":"Exit or Disposal Cost Obligations","score":0.7346,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:91ad883818e708223eb82fb5a607f486fac479101a2de26c1f5ae748bdf4caac","downloaded_from":"2026-09-10T00:22:32.182Z","last_downloaded_at":"2026-09-10T00:23:24.442Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"340-10","title":"Overall","topic_title":"Other Assets and Deferred Costs","score":0.7314,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:964e40e558be668dd1c3259c9cdd76360850119853eef62856decf10c07e725f","downloaded_from":"2026-09-09T23:54:15.524Z","last_downloaded_at":"2026-09-09T23:55:04.724Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"220-40","title":"Expense Disaggregation Disclosures","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.7298,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a6f54fb36fdfbcdbfaff4c142b7894268bb41f2617294e51b4931b060253f996","downloaded_from":"2026-09-09T23:04:51.666Z","last_downloaded_at":"2026-09-09T23:05:14.675Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"326-30","title":"Available-for-Sale Debt Securities","topic_title":"Financial Instruments—Credit Losses","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebdc262cfdaaa3f95c7b359d5f1536485e6e915bc156ce698c68c412a1bdb080","downloaded_from":"2026-09-09T23:49:57.453Z","last_downloaded_at":"2026-09-09T23:50:26.688Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-905","title":"Agriculture","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:790e15cacf3cded4720364a59713e67a0edb81aaa7dd235d9f0d48350e3e070d","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:52.923Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c39df8b09e7d239709f3e2e448c6996d08038409e2a8159a4dc8b5749424c313","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-905","topic":"330","title":"Agriculture","area":"Assets","paragraphs":32,"summary":"ASC 330-905 applies Inventory guidance to the agricultural industry, covering producers (growing crops, developing animals, harvested crops, livestock held for sale, secondary products), pooling cooperatives, and cooperative patrons. Direct and indirect costs of growing crops are accumulated until harvest, with pre-planting costs deferred and post-harvest cultural costs estimated and accrued to the harvested crop. Harvested crops and animals held for sale may be carried at net realizable value if they have a reliable, readily determinable market price, insignificant and predictable disposal costs, and immediate availability for delivery; otherwise Subtopic 330-10 measurement applies.","concepts":["growing crops","harvested crops","animals held for sale","net realizable value","pooling cooperative","assigned amounts to patron products","deferred pre-planting and accrued post-harvest costs","market basis inventory"],"categories":["Inventory and PP&E","Subsequent measurement","Industry-specific","Disclosure"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-905-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Agricultural Cooperative Added Accounting Standards Update No. 2014-06 03/14/2014
Cooperatives Superseded Accounting Standards Update No. 2014-06 03/14/2014
Member of an Agricultural Cooperative Added Accounting Standards Update No. 2014-06 03/14/2014
Net Realizable Value (2nd def.) Amended Accounting Standards Update No. 2014-06 03/14/2014
Nonmember of an Agricultural Cooperative Added Accounting Standards Update No. 2014-06 03/14/2014
Patrons Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-05-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-05-4 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-05-5 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-15-2 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-15-3 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-25-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-30-3 Superseded Accounting Standards Update No. 2014-09 05/28/2014
905-330-30-3 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-30-4 Amended Accounting Standards Update No. 2014-09 05/28/2014
905-330-35-1 through 35-3
 Amended Accounting Standards Update No. 2015-11 07/22/2015
905-330-35-5 Amended Accounting Standards Update No. 2015-11 07/22/2015
905-330-40-1 Superseded Accounting Standards Update No. 2014-09 05/28/2014
905-330-40-1 Amended Accounting Standards Update No. 2014-06 03/14/2014
905-330-55-2 through 55-4
 Amended Accounting Standards Update No. 2015-11 07/22/2015
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nAgricultural Cooperative | Added | Accounting Standards Update No. 2014-06 | 03/14/2014 …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c5c3d623e543ecd52d2d161f0f56a692be5467d026817c01e324cb30bf9e1832","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:23.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479206","source_sha256":"300b79e43a23f275a7b3ed07a2e3ac47f792ee3b19d89e0ba5c0f0bc5b62e141"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3b20e3f43d39e78de17a930c42663cf7a666ab911825351b7df5ff3bf0d3559","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:23.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479206","source_sha256":"300b79e43a23f275a7b3ed07a2e3ac47f792ee3b19d89e0ba5c0f0bc5b62e141"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3fcdc0cc770fe8bda2b6a0ece52c8efb1d4b8b9b02cb7880b67d99a25defa03","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:23.210Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479206","source_sha256":"300b79e43a23f275a7b3ed07a2e3ac47f792ee3b19d89e0ba5c0f0bc5b62e141"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-905-05-1","para":"05-1","html":"
This Subtopic addresses inventory accounting for entities in the agricultural industry. The guidance for accounting for different entities in the agricultural industry is presented in the following three Subsections:
  1. a
    General
  2. b
    Cooperatives
  3. c
    Cooperatives—Patrons.
","snippet":"This Subtopic addresses inventory accounting for entities in the agricultural industry. The guidance for accounting for different entities in the agricultural industry is presented in the following three Subsections:\n(a)…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7bf632bc543a0389a5f105098ee2755768a5a0ccff666d2b0c2734051c5486ab","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}},{"citation":"330-905-05-2","para":"05-2","html":"
The General Subsections provide guidance for all those entities operating in the agricultural industry as set forth in the General Subsection of Section 905-10-05. Inventories of agricultural producers include growing crops, developing animals to be held for sale, harvested crops, livestock held for sale, and secondary products, such as calves from dairy herds and wool from sheep.
","snippet":"The General Subsections provide guidance for all those entities operating in the agricultural industry as set forth in the General Subsection of Section 905-10-05. Inventories of agricultural producers include growing cr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:69a6baa9fa23d7bdb997b724776cd9e639b59f2cb564b28b5e554d97d4b4fc47","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}},{"citation":"330-905-05-3","para":"05-3","html":"
Field and row crops with cycles of less than one year that constitute part of inventory are generally classed as annuals. These crops include wheat, barley, milo, corn, soybeans, sugar beets, tobacco, cotton, crops raised for seed, tomatoes, lettuce, beans, cabbages, and melons.
","snippet":"Field and row crops with cycles of less than one year that constitute part of inventory are generally classed as annuals. These crops include wheat, barley, milo, corn, soybeans, sugar beets, tobacco, cotton, crops raise…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:234b700a34556b80aec3b7c7310bf252f969f4db225759a1609f09296c5448dd","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad2e7bed9adfa856285475bf0017cf08721d6f371a72686cfa6124947858e156","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}},{"block":"Cooperatives","heading":null,"paragraphs":[{"citation":"330-905-05-4","para":"05-4","html":"
The Cooperatives Subsections provide guidance about the different accounting methods used by pooling cooperatives for patron product deliveries. These methods have been developed to satisfy provisions of their bylaws and contractual arrangements with patrons and to provide equitable methods of settlement from pool period to pool period, as well as among the various classes of patrons. For pooling cooperatives, accounting methods have been developed to allow the use of the single-pool or multiple-pool methods of accounting.
","snippet":"The Cooperatives Subsections provide guidance about the different accounting methods used by pooling cooperatives for patron product deliveries. These methods have been developed to satisfy provisions of their bylaws and…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce5f9cbd77cdd14a982cb7bb75f9a2a61f349b404f92eee36f8f03a4ce769ebc","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc16bcc75237acc3f1b9edcbc9e49d69853acdd9117ea030dff6f25b62b35ad3","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}},{"block":"Cooperatives—Patrons","heading":null,"paragraphs":[{"citation":"330-905-05-5","para":"05-5","html":"
The Cooperatives—Patrons Subsections address inventory accounting by patrons of agricultural cooperatives.
","snippet":"The Cooperatives—Patrons Subsections address inventory accounting by patrons of agricultural cooperatives.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:932003194bd9bdcfdc3b42df5ec5e53f39077abdae742762bed3cbd48806401e","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b35e4638b6f9075b87e54199da3c6163b7a92be3028ce3d4d56ca7ee21c974c9","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38b23c933df0c16ccfc978767185e8876d935a648b2e89bc5977c1b8cfcfb169","downloaded_from":"2026-09-09T23:51:24.987Z","last_downloaded_at":"2026-09-09T23:51:24.987Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478266","source_sha256":"a8c8eb2021738505176b810714af456b9d8f8f1d47ce2047785165cc1550c718"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-905-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the General Subsection of Section 905-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the General Subsection of Section 905-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d8da23d6eff2530449925cdf0c721b30ff3272ea1b98708aa9656f0ed12c5a11","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7699866b10acc24fd25c31d8302b91b361026d9637107678ccbb53bb522023ce","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}},{"block":"Cooperatives","heading":"Overall Guidance","paragraphs":[{"citation":"330-905-15-2","para":"15-2","html":"
The Cooperatives Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives Subsection of Section 905-10-15.
","snippet":"The Cooperatives Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives Subsection of Section 905-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:735133d200231e705c7a1fa0abbd3c899cf18211da091880f42b906e5306924a","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa88b08343e2a7d0a4a01198c13081fefb30a8bf32c5dd67ae9abfd831b3c00b","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}},{"block":"Cooperatives—Patrons","heading":"Overall Guidance","paragraphs":[{"citation":"330-905-15-3","para":"15-3","html":"
The Cooperatives—Patrons Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives—Patrons Subsection of Section 905-10-15.
","snippet":"The Cooperatives—Patrons Subsections follow the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the Cooperatives—Patrons Subsection of Section 905-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce90a3b07f9d53da2e41b03b7a9449ff1ed5285c403a6923a6ac63739df890f6","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0508360231037c7e7fc5f600835720e36452c1d5a0699639bcc0cc28bc1953c2","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04cf9584b2b880462f3ea5f0eb1944453cf5cb1f62b6de2359b18f412ea3db34","downloaded_from":"2026-09-09T23:51:28.028Z","last_downloaded_at":"2026-09-09T23:51:28.028Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478089","source_sha256":"a8d9e6101818b44648686acbe9802e2eba41243d20be6cdb583bb909c2794c30"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Growing Crops","paragraphs":[{"citation":"330-905-25-1","para":"25-1","html":"
All direct and indirect costs of growing crops shall be accumulated until the time of harvest. Some crop costs, such as soil preparation, are incurred before planting and shall be deferred and allocated to the growing crop.
","snippet":"All direct and indirect costs of growing crops shall be accumulated until the time of harvest. Some crop costs, such as soil preparation, are incurred before planting and shall be deferred and allocated to the growing cr…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:158c0eaa3cde029977c332c204b85f1844b68ed15e9a3b1fb031ed0dede42f55","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"citation":"330-905-25-2","para":"25-2","html":"
Other cultural practices, such as clearing the residue of harvested crops, cannot be performed or completed until after harvest, which may be in a succeeding year; those costs shall be estimated, accrued, and allocated to the harvested crop. Some crops require more than one year to mature, and the costs shall be deferred until harvest.
","snippet":"Other cultural practices, such as clearing the residue of harvested crops, cannot be performed or completed until after harvest, which may be in a succeeding year; those costs shall be estimated, accrued, and allocated t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:767b3ca0adb037990e93920f31bfb7b20daceab469322ac1686bdc38a8f447ec","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:600462ea5f7484a0904a553d89683cfbed0c631f93a52b3f9ff1890a4fd7e99b","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"block":null,"heading":"Production Animals","paragraphs":[{"citation":"330-905-25-3","para":"25-3","html":"
Animals with short productive lives, such as poultry, may be classified as inventory. Due to the short productive life of poultry, the cost of flocks may be classified as inventory. The accounting principles for poultry operations are much the same as those for other production animals (see paragraph 905-360-25-4), although the operating cycles are much shorter.
","snippet":"Animals with short productive lives, such as poultry, may be classified as inventory. Due to the short productive life of poultry, the cost of flocks may be classified as inventory. The accounting principles for poultry …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b2a0166725a3ed4f0b43b5081c35162fd1b6ecf1d8c4fd2b87dedbce80dc4d95","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"citation":"330-905-25-4","para":"25-4","html":"
For guidance on developing animals and animals held for sale, breeding animals, and production animals, see Subtopic 905-360.
","snippet":"For guidance on developing animals and animals held for sale, breeding animals, and production animals, see Subtopic 905-360.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d3b0f4e62a8782a37618125430458282414ac329be685f9f7293a6a4b11774d","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3ec34fec09f2d5e778b55723b4dd5222d5445e312aa3dfaaf71319ce2aaa79ca","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"block":"Cooperatives","heading":null,"paragraphs":[{"citation":"330-905-25-5","para":"25-5","html":"
If the boards of directors of agricultural marketing cooperatives operating on a pooling basis with no obligation to pay patrons fixed prices (pooling cooperatives) assign amounts that approximate estimated market to unprocessed products received from patrons, the assigned amounts are cost and shall be charged to cost of goods sold.
","snippet":"If the boards of directors of agricultural marketing cooperatives operating on a pooling basis with no obligation to pay patrons fixed prices (pooling cooperatives) assign amounts that approximate estimated market to unp…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c597175d357a9dd06069e394045d41f5bafd59d6e3c4a3ee2720525c209e2649","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"citation":"330-905-25-6","para":"25-6","html":"
Pooling cooperatives may use net realizable value for determining pool proceeds, transferring inventory amounts to subsequent pools, or for other purposes (see column B in the table in Example 1 (paragraph 905-330-55-1)).
","snippet":"Pooling cooperatives may use net realizable value for determining pool proceeds, transferring inventory amounts to subsequent pools, or for other purposes (see column B in the table in Example 1 (paragraph 905-330-55-1))…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b36699f7afd32b9719e5752ae709e7e9ad7a6724bc490449537de000b64ddaa9","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"citation":"330-905-25-7","para":"25-7","html":"
If the boards of directors of pooling cooperatives do not assign amounts that approximate market to unprocessed products received from patrons, the cooperatives shall account for inventories at net realizable value (see column C in the table in Example 1 (paragraph 905-330-55-1)). Because amounts that approximate estimated market are not assigned to products received from patrons, cost of goods sold will not include a charge for unprocessed products under this method.
","snippet":"If the boards of directors of pooling cooperatives do not assign amounts that approximate market to unprocessed products received from patrons, the cooperatives shall account for inventories at net realizable value (see …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:24479d098eb17cba4d80d2a8d59cb3ba367695875d267f184a0a54a69baf640b","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"citation":"330-905-25-8","para":"25-8","html":"
Pooling cooperatives shall not use the cash advance method to account for inventories.
","snippet":"Pooling cooperatives shall not use the cash advance method to account for inventories.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fa57e0696b3dd832a7f8d8585f0f6be2d795191d8f145bafb344d4ed2e74f568","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ae803bd5d1e8781fa65a00890022e153392265e29ab08b7800fd2678013b7e5","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8733a5b9282f737a59d8b513c8d389a6c03969845ca3df79aa1da0b9b132ef05","downloaded_from":"2026-09-09T23:51:32.233Z","last_downloaded_at":"2026-09-09T23:51:32.233Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479015","source_sha256":"38f149430aac80ebfb86aef3e367f922344bf34d5161e12cd400c620c13ea6b8"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-905-30-1","para":"30-1","html":"
Exceptional cases exist in which it is not practicable to determine an appropriate cost basis for products. A market basis is acceptable if the products meet all of the following criteria:
  1. a
    They have immediate marketability at quoted market prices that cannot be influenced by the producer.
  2. b
    They have characteristics of unit interchangeability.
  3. c
    They have relatively insignificant costs of disposal.
The accounting basis of those kinds of inventories shall be their realizable value, calculated on the basis of quoted market prices less estimated direct costs of disposal. An example is freshly dressed meats produced in meat packing operations.
","snippet":"Exceptional cases exist in which it is not practicable to determine an appropriate cost basis for products. A market basis is acceptable if the products meet all of the following criteria:\n(a) They have immediate marketa…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3eb6a555c28725a838b479d5868fac35918c67e5a33fe11958c687ff0a07147","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8801e60b4fabd1ec898f5d082c34fda79e50f9edbc8c7662b50fdd49dd268243","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}},{"block":null,"heading":"Harvested Crops","paragraphs":[{"citation":"330-905-30-2","para":"30-2","html":"
Generally, farming procedures undertaken after the current year harvest benefit the crop of the succeeding year. There may be instances, however, in which additional costs such as costs of special tillage, chopping, or burning are required after harvest of a particular crop to overcome a physical or noxious condition. Those costs shall be estimated and accrued as costs of the harvested crop.
","snippet":"Generally, farming procedures undertaken after the current year harvest benefit the crop of the succeeding year. There may be instances, however, in which additional costs such as costs of special tillage, chopping, or b…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e0141feeed622fb1904edce9c9ccea3b143fb0a04c89350da79c5aa273f3cfb5","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a04860bd1f6f70a729bd4d23c8ddb70d63c09fa5b01271883af6b125bfb6e84","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}},{"block":"Cooperatives","heading":null,"paragraphs":[{"citation":"330-905-30-3","para":"30-3","html":"
Paragraph superseded by Accounting Standards Update No. 2014-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:645e82e4f800f2d41a174dc3d01b6e0fc71e4f5484de2dcd7a51d28cfffda32e","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}},{"citation":"330-905-30-4","para":"30-4","html":"
Agricultural cooperatives operating on a pooling basis may receive products from their patrons without paying a fixed price to the patrons. A cooperative may assign amounts to products on the basis of current prices paid by other buyers or on amounts established by the cooperative's board of directors, or it may assign no amount.
","snippet":"Agricultural cooperatives operating on a pooling basis may receive products from their patrons without paying a fixed price to the patrons. A cooperative may assign amounts to products on the basis of current prices paid…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a38c438120dcf18f76617df62e1b5dabc702f66d1f5892a109cd240a10fa6963","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:434103df394026bcc054006916d997e5a53e97001e2734140bab5dd58177cbba","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b70e7887f705e7533f94ede92f554839b0159deeba389a9f5cd9dec69f8d4d2","downloaded_from":"2026-09-09T23:51:35.402Z","last_downloaded_at":"2026-09-09T23:51:35.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478007","source_sha256":"80b8f5c93cfed9361a46dffbd56fd7c880d58fbb1c75db0837cf5ada9bbe9aa1"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Growing Crops","paragraphs":[{"citation":"330-905-35-1","para":"35-1","html":"
Costs of growing crops shall be accumulated until the time of harvest. Growing crops shall be measured using the guidance in Subtopic 330-10.
","snippet":"Costs of growing crops shall be accumulated until the time of harvest. Growing crops shall be measured using the guidance in Subtopic 330-10.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c62a21fa36adee4eea824e84695379f8bfd16c42de8050c31c53d48419be804c","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:013699a5c2d55c67cd5e7d9bd2487ac7b583a4f1f46384ffcd76f72c7eeeae8c","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}},{"block":null,"heading":"Developing Animals","paragraphs":[{"citation":"330-905-35-2","para":"35-2","html":"
Developing animals to be held for sale shall be measured using the guidance in Subtopic 330-10.
","snippet":"Developing animals to be held for sale shall be measured using the guidance in Subtopic 330-10.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:682f834a8ac5c1910fcabecd59130c887e6bf22bb1ca421a4d3d924a8c5cb6bf","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:240f15b28ed63db341c66e864a0fc4582747eb8186b40c6aa154b38f635f8e41","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}},{"block":null,"heading":"Animals Available and Held for Sale","paragraphs":[{"citation":"330-905-35-3","para":"35-3","html":"
Animals held for sale shall be valued at either of the following:
  1. a
    The amount determined using the measurement guidance in Subtopic 330-10
  2. b
    Net realizable value, if all the following conditions exist:
    1. 1
      The product has a reliable, readily determinable, and realizable market price.
    2. 2
      The product has relatively insignificant and predictable costs of disposal.
    3. 3
      The product is available for immediate delivery.
","snippet":"Animals held for sale shall be valued at either of the following:\n(a) The amount determined using the measurement guidance in Subtopic 330-10\n(b) Net realizable value, if all the following conditions exist:\n(1) The produ…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:519aadae8636cfdcd2a8ef53eea025cdd37b27968f0f23d4c71910e6ae5e7c73","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ed4b45c75f84dcc6e7e7d20207798392a4ae5b77ea1b26ce8aa9e3b3d9fdca56","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}},{"block":null,"heading":"Harvested Crops","paragraphs":[{"citation":"330-905-35-4","para":"35-4","html":"
Inventories of harvested crops shall be valued using the same criteria as animals held for sale in the preceding paragraph.
","snippet":"Inventories of harvested crops shall be valued using the same criteria as animals held for sale in the preceding paragraph.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2baa4ba68ca820b41223931420f0faf13a5466bfe516cf4eac5a5fa71696649f","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8054fb5a59867c72bb717f8a6a8ddc9a7e37275fde6a0fdd26ac9960bffbfa15","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}},{"block":"Cooperatives","heading":null,"paragraphs":[{"citation":"330-905-35-5","para":"35-5","html":"
The inventories for a pooling cooperative shall be accounted for at either of the following:
  1. a
    The amount determined using the measurement guidance in Subtopic 330-10
  2. b
    Net realizable value.
When assigned amounts are used, they should approximate estimated net realizable value of unprocessed products delivered by patrons. See Example 1 (paragraph 905-330-55-1) for an illustration.
","snippet":"The inventories for a pooling cooperative shall be accounted for at either of the following:\n(a) The amount determined using the measurement guidance in Subtopic 330-10\n(b) Net realizable value.\nWhen assigned amounts are…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc1b6fe39a76d17d053d7e2b9e4a0afec4ad35b78c49c219be7e0cd27f84fd2d","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:97435e0c0191924242b7802ee892e7d1affd4daebfd46c75b57171174689f171","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1c6418cbe5b8a338147a7776f8d2b1c25706658781c879bbe740edbe29c4924c","downloaded_from":"2026-09-09T23:51:39.164Z","last_downloaded_at":"2026-09-09T23:51:39.164Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477934","source_sha256":"183df724af35ed5f4fb9a28e7e423d01dd7a8f0e76a48aea9377bd247c0fc36d"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":"Cooperatives—Patrons","heading":null,"paragraphs":[{"citation":"330-905-40-1","para":"40-1","html":"
Paragraph superseded by Accounting Standards Update No. 2014-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0268ac81bf684b33f535c85a7d65e0b5f99807c8b3884ae2f79ab1db825be09d","downloaded_from":"2026-09-09T23:51:42.990Z","last_downloaded_at":"2026-09-09T23:51:42.990Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478855","source_sha256":"b2351406cf5b32362726d823e7980195b3721aebf42a393a350e8947d7f26751"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6353a4a6014bda7f1ff5c5b06f474dbcece2fb9b6345228830ef584b0379300b","downloaded_from":"2026-09-09T23:51:42.990Z","last_downloaded_at":"2026-09-09T23:51:42.990Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478855","source_sha256":"b2351406cf5b32362726d823e7980195b3721aebf42a393a350e8947d7f26751"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f7ed93e8c7ce510cfe7e2fa13610ba95a78d47f36b193ab07bbc3d1fc35c3d8","downloaded_from":"2026-09-09T23:51:42.990Z","last_downloaded_at":"2026-09-09T23:51:42.990Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478855","source_sha256":"b2351406cf5b32362726d823e7980195b3721aebf42a393a350e8947d7f26751"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":"Cooperatives","heading":null,"paragraphs":[{"citation":"330-905-50-1","para":"50-1","html":"
The method used and the dollar amounts assigned to members' products shall be disclosed.
","snippet":"The method used and the dollar amounts assigned to members' products shall be disclosed.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c564fbb8b5dcc409cb91cfeb0bce4e8c998d5e4f892ac5ea3e70852eb7a44c3d","downloaded_from":"2026-09-09T23:51:45.954Z","last_downloaded_at":"2026-09-09T23:51:45.954Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478108","source_sha256":"d443f41287412a6c861bbac548d5104a41e37358d2f3b72ecb1d708e181ed461"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f9a23502ad84374eaf1d718774326314630ee1a5745c973b4eed0a9fef0b85c","downloaded_from":"2026-09-09T23:51:45.954Z","last_downloaded_at":"2026-09-09T23:51:45.954Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478108","source_sha256":"d443f41287412a6c861bbac548d5104a41e37358d2f3b72ecb1d708e181ed461"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19267d9e6ccd79aadbcae0b71c489f00720e8142a6f41612acd70d3fb1877893","downloaded_from":"2026-09-09T23:51:45.954Z","last_downloaded_at":"2026-09-09T23:51:45.954Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478108","source_sha256":"d443f41287412a6c861bbac548d5104a41e37358d2f3b72ecb1d708e181ed461"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":"Cooperatives","heading":"Illustrations","paragraphs":[{"citation":"330-905-55-1","para":"55-1","html":"
This Example illustrates the guidance in paragraphs
905-330-25-6 through 25-7
and 905-330-35-5.
","snippet":"This Example illustrates the guidance in paragraphs 905-330-25-6 through 25-7 and 905-330-35-5.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3cf4cb6da63f057d0add5865c8bc72d826874eec13caae88125cfe21af3d2087","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}},{"citation":"330-905-55-2","para":"55-2","html":"
In this Example, inventory is measured using first-in, first-out (FIFO) and the following assumptions apply:
","snippet":"In this Example, inventory is measured using first-in, first-out (FIFO) and the following assumptions apply:","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8fba49c4e36aa16b22481a6bbe372a89b324d6d390eb5a401abd3039b3245479","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}},{"citation":"330-905-55-3","para":"55-3","html":"
The following tables illustrate the statement of net earnings prepared under each of two possible methods of accounting for inventories (columns A and B), the statement of net proceeds prepared under the net realizable value method (column C), and the respective statements of amounts due patrons, if such latter statement is included in the financial statements. Column A demonstrates the lower of cost and net realizable value method with patrons' raw product being charged to cost of production at assigned amounts. Column B demonstrates the net realizable value method with patrons' raw product being charged to cost of production at assigned amounts. Column C demonstrates the net realizable value method when no amounts are assigned to patrons' raw product; therefore, there is no charge to cost of production for patrons' raw product.
","snippet":"The following tables illustrate the statement of net earnings prepared under each of two possible methods of accounting for inventories (columns A and B), the statement of net proceeds prepared under the net realizable v…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d417cf0e612cb7a9aa3278dee0fbbaf6bae05f184a1825222a1ba4b99479d1ae","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}},{"citation":"330-905-55-4","para":"55-4","html":"
Under the two inventory methods presented, the difference in amounts due patrons at the end of the year results from the difference in the ending inventory valuations, illustrated as follows.
","snippet":"Under the two inventory methods presented, the difference in amounts due patrons at the end of the year results from the difference in the ending inventory valuations, illustrated as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1a64ad430af6db14a6b1287a10183fc8319351d8309bc8d0221526ef942ec2fc","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dabd7796ad563ba8084597898897cbf79f4fbe379dc2cb490d52b33b7fab4b2d","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c897eda7689cb89c1e5882d40b499f0b4356e864c3902bfdd7007c00d80ad29","downloaded_from":"2026-09-09T23:51:49.173Z","last_downloaded_at":"2026-09-09T23:51:49.173Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477364","source_sha256":"46eec8013bff330eaba609d8934b13206c8db1a8059e7e754c56f35ca156677c"}}],"enrichment":{"summary":"ASC 330-905 applies Inventory guidance to the agricultural industry, covering producers (growing crops, developing animals, harvested crops, livestock held for sale, secondary products), pooling cooperatives, and cooperative patrons. Direct and indirect costs of growing crops are accumulated until harvest, with pre-planting costs deferred and post-harvest cultural costs estimated and accrued to the harvested crop. Harvested crops and animals held for sale may be carried at net realizable value if they have a reliable, readily determinable market price, insignificant and predictable disposal costs, and immediate availability for delivery; otherwise Subtopic 330-10 measurement applies.","key_points":["All direct and indirect costs of growing crops shall be accumulated until harvest; pre-planting costs such as soil preparation are deferred and allocated to the growing crop, and crops requiring more than one year to mature have costs deferred until harvest (330-905-25-1 through 25-2).","Post-harvest cultural practices (e.g., clearing residue, special tillage, chopping, or burning to overcome a physical or noxious condition) shall be estimated and accrued as costs of the harvested crop (330-905-25-2; 330-905-30-2).","Animals held for sale and harvested crops are valued under Subtopic 330-10 or at net realizable value if the product has a reliable, readily determinable, and realizable market price, relatively insignificant and predictable disposal costs, and is available for immediate delivery (330-905-35-3 through 35-4).","A market basis (quoted market prices less estimated direct costs of disposal) is acceptable where a cost basis is not practicable and the products have immediate marketability at prices the producer cannot influence, unit interchangeability, and insignificant disposal costs—e.g., freshly dressed meats (330-905-30-1).","Animals with short productive lives, such as poultry flocks, may be classified as inventory; other developing, breeding, and production animals are addressed in Subtopic 905-360 (330-905-25-3 through 25-4).","For pooling cooperatives, board-assigned amounts approximating estimated market for unprocessed patron products are treated as cost and charged to cost of goods sold; if no such amounts are assigned, inventories are accounted for at net realizable value and cost of goods sold includes no charge for unprocessed products (330-905-25-5, 25-7, 35-5).","Pooling cooperatives shall not use the cash advance method to account for inventories, and the method used and dollar amounts assigned to members' products shall be disclosed (330-905-25-8; 330-905-50-1)."],"categories":["Inventory and PP&E","Subsequent measurement","Industry-specific","Disclosure"],"audience_level":"intermediate","student_note":"Agriculture is one of the few industries where GAAP permits carrying inventory above cost at net realizable value, but only when the three conditions in 330-905-35-3(b) are all met—students often assume NRV is freely elective. Also watch the cooperative rules: assigned amounts function as cost, and the cash advance method is prohibited.","related_topics":["330-10","905-360","905-10","905-330","606"],"key_concepts":["growing crops","harvested crops","animals held for sale","net realizable value","pooling cooperative","assigned amounts to patron products","deferred pre-planting and accrued post-harvest costs","market basis inventory"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5b37fa9542368f9ca5fed58cb746f520b5f28b8a87292b32a0bc2e372f84ad11","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:52.923Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"405-905","title":"Agriculture","topic_title":"Liabilities","score":0.8019,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c8e2d21dea305242d95b3be43625338360771dc5d4c43e121f47b6be5158f3a2","downloaded_from":"2026-09-10T00:15:44.426Z","last_downloaded_at":"2026-09-10T00:16:03.076Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"325-905","title":"Agriculture","topic_title":"Investments—Other","score":0.7846,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c861138a72e0aaaebda8f6b58bac4d27116de24c4199b0e257f14119c330dde8","downloaded_from":"2026-09-09T23:45:01.186Z","last_downloaded_at":"2026-09-09T23:45:25.642Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-905","title":"Agriculture","topic_title":"Revenue Recognition","score":0.7729,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4dbb15eb9cd2a5c0b065d0adad259efef4caf9799e9f0c97a23bacfe9b42d80a","downloaded_from":"2026-09-10T00:45:40.215Z","last_downloaded_at":"2026-09-10T00:45:59.310Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-905","title":"Agriculture","topic_title":"Receivables","score":0.7713,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ba6d0445c463d0c62bcf95c3fd0a7339afd271e7145e2f6009439075f811f90","downloaded_from":"2026-09-09T23:27:49.582Z","last_downloaded_at":"2026-09-09T23:28:04.502Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"905-10","title":"Overall","topic_title":"Agriculture","score":0.7506,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ba7e2a64e0def742848ed7927cce4c286efd7f082d9fc58e8d058baab70c5318","downloaded_from":"2026-09-10T02:08:37.690Z","last_downloaded_at":"2026-09-10T02:08:46.650Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"705-905","title":"Agriculture","topic_title":"Cost of Sales and Services","score":0.7421,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:033f3d2954ed95c053cafece17131a4c9a272dcf4caaabd41bf05d4911725b9a","downloaded_from":"2026-09-10T00:56:04.703Z","last_downloaded_at":"2026-09-10T00:56:11.435Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-10","title":"Overall","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b9c55d5f4e6fe8d5c06b3109a2a50bcb93f6f9cfd1aef4c9ac2750990105ab0","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:51:21.227Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-908","title":"Airlines","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f46ece58b5471383770bc19060791fa1b17a75b72ddaaf5d8c9899b797bbacd1","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b4bb2437434c21948c32428a5426a1b036ded7dcaa987affbf9a13a9980a4f1","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:52.923Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-908","topic":"330","title":"Airlines","area":"Assets","paragraphs":9,"summary":"ASC 330-908 governs inventory accounting for airlines, where \"inventory\" consists of expendable spare parts, materials, and supplies held for internal consumption rather than sale. Expendable parts are recorded at cost in a current asset account akin to a prepaid expense, carry an allowance for obsolescence tied to the lives of the related fleets, and are charged to expense as used.","concepts":["expendable spare parts","materials and supplies","allowance for obsolescence","rotable parts","cost valuation","current asset classification","internal consumption inventory","airline industry"],"categories":["Inventory and PP&E","Industry-specific","Subsequent measurement","Initial measurement"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-05-1","para":"05-1","html":"
This Subtopic provides guidance for inventory accounting for entities in the airline industry.
","snippet":"This Subtopic provides guidance for inventory accounting for entities in the airline industry.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a242b038e52fbe6029f69e884f512a6c037aa594630ee903c7c13fc4556b4cf9","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:51:55.917Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479217","source_sha256":"6d90c6182bdaa32a69a8af40fed776e56dca53899e7a756b14103030e9b69a14"}},{"citation":"330-908-05-2","para":"05-2","html":"
The inventories in an airline operation (that is, carrier services for passengers and/or cargo) are for internal consumption and not for sale; they therefore differ substantially from the classical definition (see Topic 330). Inventories in an airline operation comprise primarily expendable (spare) parts and materials and supplies used in the airline's operation.
","snippet":"The inventories in an airline operation (that is, carrier services for passengers and/or cargo) are for internal consumption and not for sale; they therefore differ substantially from the classical definition (see Topic …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:159f033d374d9cd01389f6bb7b3aceb545b2c7157a5324c82d5146cb2dd4eaa2","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:51:55.917Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479217","source_sha256":"6d90c6182bdaa32a69a8af40fed776e56dca53899e7a756b14103030e9b69a14"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:477bc86f69830afa5a18418b97649e088b3fa3f8e00809f1b521410874eb7223","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:51:55.917Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479217","source_sha256":"6d90c6182bdaa32a69a8af40fed776e56dca53899e7a756b14103030e9b69a14"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3a551ed9e808afc26c71de19362a0c94406f121bd389835c0532e51e778665cc","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:51:55.917Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479217","source_sha256":"6d90c6182bdaa32a69a8af40fed776e56dca53899e7a756b14103030e9b69a14"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-908-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 908-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 908-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cdf73216dcdf2ad6adf0d08fe0d4e57ccc01249aba32775b515a8a50b1f1db75","downloaded_from":"2026-09-09T23:51:57.728Z","last_downloaded_at":"2026-09-09T23:51:57.728Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478529","source_sha256":"7649f4d19491bdc264b5188657413741b1f9097415e83d44e3cb3b4c4b5b0659"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cf1f9c052afc13364c6a4d46c094b6124c04cbca1b9c243dd9a929d483d01f62","downloaded_from":"2026-09-09T23:51:57.728Z","last_downloaded_at":"2026-09-09T23:51:57.728Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478529","source_sha256":"7649f4d19491bdc264b5188657413741b1f9097415e83d44e3cb3b4c4b5b0659"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:73fbead827d045686158bc3ff2b8fcab4ac21b0bb5ef57b111ceb9cb6cf6bebe","downloaded_from":"2026-09-09T23:51:57.728Z","last_downloaded_at":"2026-09-09T23:51:57.728Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478529","source_sha256":"7649f4d19491bdc264b5188657413741b1f9097415e83d44e3cb3b4c4b5b0659"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-25-1","para":"25-1","html":"
Expendable parts shall be recorded at cost in a current asset account for spare parts and supplies, which is similar in nature to a prepaid expense. Reusable spare parts and supplies recovered in connection with construction, maintenance, or retirement of property and equipment shall be included with expendable parts at the average cost of comparable items. This valuation is typically based on the condition of the part or group of parts and their continuing utility. Materials and supplies held in small quantities and purchased as needed shall be charged to expense when they are purchased.
","snippet":"Expendable parts shall be recorded at cost in a current asset account for spare parts and supplies, which is similar in nature to a prepaid expense. Reusable spare parts and supplies recovered in connection with construc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac08476eed0df129eaa67184891e0c5115def0b00f45176311deec2e2a8d1a79","downloaded_from":"2026-09-09T23:52:01.526Z","last_downloaded_at":"2026-09-09T23:52:01.526Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477923","source_sha256":"30300a8f96e638797ffa82d0b8d7a23d2181760edf35ab58f067b660f9e70f32"}},{"citation":"330-908-25-2","para":"25-2","html":"
See Section 908-330-30 for a summary of the recognition and initial measurement standards for airline inventories.
","snippet":"See Section 908-330-30 for a summary of the recognition and initial measurement standards for airline inventories.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:baf198b497fa8d19f1b6ed8bf03caad72db040727a0220f729ec08975051d93b","downloaded_from":"2026-09-09T23:52:01.526Z","last_downloaded_at":"2026-09-09T23:52:01.526Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477923","source_sha256":"30300a8f96e638797ffa82d0b8d7a23d2181760edf35ab58f067b660f9e70f32"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e609ea5d71a5f311344a3efd10eaefa34c10fedbf680ec1759fa62955cf228ce","downloaded_from":"2026-09-09T23:52:01.526Z","last_downloaded_at":"2026-09-09T23:52:01.526Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477923","source_sha256":"30300a8f96e638797ffa82d0b8d7a23d2181760edf35ab58f067b660f9e70f32"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3a424b4ea18aef9e1dbf5f27f8e02001249430df997657fcb4c4f422859a4146","downloaded_from":"2026-09-09T23:52:01.526Z","last_downloaded_at":"2026-09-09T23:52:01.526Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477923","source_sha256":"30300a8f96e638797ffa82d0b8d7a23d2181760edf35ab58f067b660f9e70f32"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-30-1","para":"30-1","html":"
Inventories are valued at cost.
","snippet":"Inventories are valued at cost.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3401f7ccb292c3f83e5d7a6c2ac461cb2278e628f380609247808f2041779732","downloaded_from":"2026-09-09T23:52:05.170Z","last_downloaded_at":"2026-09-09T23:52:05.170Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477770","source_sha256":"e16e6167a5e624b41eee7ea677c7b1bec263f08ecdcb6852e53f3eb4589e54ef"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:87f78354d29b462a8fb142cd139fd186d0ec5d619480a02d0c2db3c5621a76db","downloaded_from":"2026-09-09T23:52:05.170Z","last_downloaded_at":"2026-09-09T23:52:05.170Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477770","source_sha256":"e16e6167a5e624b41eee7ea677c7b1bec263f08ecdcb6852e53f3eb4589e54ef"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:435d2c4a9067b783ba3bf776d8aca67a475aa66d8aa3b2a7fc3e103bef043189","downloaded_from":"2026-09-09T23:52:05.170Z","last_downloaded_at":"2026-09-09T23:52:05.170Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477770","source_sha256":"e16e6167a5e624b41eee7ea677c7b1bec263f08ecdcb6852e53f3eb4589e54ef"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-35-1","para":"35-1","html":"
Inventories shall include an allowance for obsolescence that corresponds to the lives of the related fleets.
","snippet":"Inventories shall include an allowance for obsolescence that corresponds to the lives of the related fleets.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c24eea6a492a4764d94685b49dba4d061cf626fc94837fe963240ab0f19af293","downloaded_from":"2026-09-09T23:52:08.237Z","last_downloaded_at":"2026-09-09T23:52:08.237Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478928","source_sha256":"0f6276322308e740c6c6b46bbe6de94140e41a05b4f1ea298821cf76896aa3b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:824ee3fb57a64b93709f2c738aa24ddf107bc710d0c11c89dbaba8da2fc7a223","downloaded_from":"2026-09-09T23:52:08.237Z","last_downloaded_at":"2026-09-09T23:52:08.237Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478928","source_sha256":"0f6276322308e740c6c6b46bbe6de94140e41a05b4f1ea298821cf76896aa3b6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b9a46d5e086a9ddeb05287d98fba3e395feeac50acdccd2412aadeafbde3eb0","downloaded_from":"2026-09-09T23:52:08.237Z","last_downloaded_at":"2026-09-09T23:52:08.237Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478928","source_sha256":"0f6276322308e740c6c6b46bbe6de94140e41a05b4f1ea298821cf76896aa3b6"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-40-1","para":"40-1","html":"
Expendable parts recorded in a current asset account for spare parts and supplies shall be charged to expense as they are used.
","snippet":"Expendable parts recorded in a current asset account for spare parts and supplies shall be charged to expense as they are used.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8853da9b10d21f66f031026ad1a0c721c097d072cee565158d7f9fee8347dd3a","downloaded_from":"2026-09-09T23:52:11.681Z","last_downloaded_at":"2026-09-09T23:52:11.681Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479243","source_sha256":"cc87848f274ea053803c87d9325781c7527cebc7d303ab82d1bf3d5da937d79e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:309d20304c31e462a07c6bfdfbbb5aae29a90c9b1eee2bd659f50e71eab6fde5","downloaded_from":"2026-09-09T23:52:11.681Z","last_downloaded_at":"2026-09-09T23:52:11.681Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479243","source_sha256":"cc87848f274ea053803c87d9325781c7527cebc7d303ab82d1bf3d5da937d79e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9ba0a454d7aa1f628b7231686f51193c5425f00238c5893026f621bd04be8132","downloaded_from":"2026-09-09T23:52:11.681Z","last_downloaded_at":"2026-09-09T23:52:11.681Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479243","source_sha256":"cc87848f274ea053803c87d9325781c7527cebc7d303ab82d1bf3d5da937d79e"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-908-45-1","para":"45-1","html":"
Expendable parts are classified as current assets (see paragraph 908-360-45-1 concerning rotable parts and assemblies of significant value).
","snippet":"Expendable parts are classified as current assets (see paragraph 908-360-45-1 concerning rotable parts and assemblies of significant value).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81994e9718e8a5142fd1631f365b90e555a5a426b68329c54363dc427a3adffc","downloaded_from":"2026-09-09T23:52:13.368Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478816","source_sha256":"0c050e081e0bc2f14d607bf0efc96870ac9e48dc6b51f9c7527df1fc223556ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58d838f6369460d1710813e10716b05094c05f0a5f13ac4d63d7dc80ff9edfa8","downloaded_from":"2026-09-09T23:52:13.368Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478816","source_sha256":"0c050e081e0bc2f14d607bf0efc96870ac9e48dc6b51f9c7527df1fc223556ad"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dfe965d9fa18a4862feb7bda62566ae0d61a258bdefa94b02e0016fbc5d4166e","downloaded_from":"2026-09-09T23:52:13.368Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478816","source_sha256":"0c050e081e0bc2f14d607bf0efc96870ac9e48dc6b51f9c7527df1fc223556ad"}}],"enrichment":{"summary":"ASC 330-908 governs inventory accounting for airlines, where \"inventory\" consists of expendable spare parts, materials, and supplies held for internal consumption rather than sale. Expendable parts are recorded at cost in a current asset account akin to a prepaid expense, carry an allowance for obsolescence tied to the lives of the related fleets, and are charged to expense as used.","key_points":["Airline inventories differ from the classic definition in Topic 330 because they are for internal consumption, not for sale, and consist primarily of expendable (spare) parts, materials, and supplies (330-908-05-2).","Expendable parts are recorded at cost in a current asset account for spare parts and supplies, similar in nature to a prepaid expense (330-908-25-1).","Reusable spare parts and supplies recovered from construction, maintenance, or retirement of property and equipment are included with expendable parts at the average cost of comparable items, based on condition and continuing utility (330-908-25-1).","Materials and supplies held in small quantities and purchased as needed are charged to expense when purchased (330-908-25-1).","Inventories are valued at cost (330-908-30-1) and must include an allowance for obsolescence corresponding to the lives of the related fleets (330-908-35-1).","Expendable parts are charged to expense as they are used (330-908-40-1) and are classified as current assets (330-908-45-1); rotable parts and assemblies of significant value are addressed in 908-360-45-1."],"categories":["Inventory and PP&E","Industry-specific","Subsequent measurement","Initial measurement"],"audience_level":"intermediate","student_note":"The key trap is treating airline \"inventory\" like goods held for sale — it is really consumable spare parts accounted for like a prepaid expense at cost, with obsolescence allowances keyed to fleet lives. Also distinguish expendable parts (current assets under 330-908) from rotable parts and assemblies of significant value, which are addressed as property and equipment under 908-360.","related_topics":["330-10","908-10","908-330","908-360","360-10"],"key_concepts":["expendable spare parts","materials and supplies","allowance for obsolescence","rotable parts","cost valuation","current asset classification","internal consumption inventory","airline industry"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bdead78762bff112c0d045775519c8be6fc34a239501297a6831d57cc1fe930e","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"360-908","title":"Airlines","topic_title":"Property, Plant, and Equipment","score":0.7654,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4482d685c40466f6bc6295cfd831f82e7f77a3f461c7e5aa30e4f038d881569b","downloaded_from":"2026-09-10T00:07:28.720Z","last_downloaded_at":"2026-09-10T00:07:56.986Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-908","title":"Airlines","topic_title":"Other Expenses","score":0.6895,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d50593be42e3030c375fcc21f678362a6f901a073303c5f2cbe23244048a4f3","downloaded_from":"2026-09-10T01:09:26.801Z","last_downloaded_at":"2026-09-10T01:09:37.136Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"908-10","title":"Overall","topic_title":"Airlines","score":0.6881,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2fe6165005e3a2821913cfd1cfc79c47756cd5f77c39c068811c3fe270522582","downloaded_from":"2026-09-10T02:08:49.576Z","last_downloaded_at":"2026-09-10T02:08:57.617Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"350-908","title":"Airlines","topic_title":"Intangibles—Goodwill and Other","score":0.6848,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e81124eb9acc8a22017767e575ba7f573ca3d75cf3975e5c114dcecc543e4a6","downloaded_from":"2026-09-10T00:03:35.089Z","last_downloaded_at":"2026-09-10T00:03:43.707Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-926","title":"Entertainment—Films","topic_title":"Inventory","score":0.6842,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a787705bf74ef65fbbb323413f519727614c5eb10325e667104caf99719ec3af","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-932","title":"Extractive Activities—Oil and Gas","topic_title":"Inventory","score":0.6668,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:daeaf1ad07b0f2a535447b5d2fb4e4371addcdef5db731fd515c0ecdc16d0432","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-905","title":"Agriculture","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:790e15cacf3cded4720364a59713e67a0edb81aaa7dd235d9f0d48350e3e070d","downloaded_from":"2026-09-09T23:51:23.210Z","last_downloaded_at":"2026-09-09T23:51:52.923Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-910","title":"Contractors—Construction","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3dd6d0485160979396b81edf87605401fbbd8d9ba26546970ee927ddb0dcf90e","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b135b7f4e8573c1ab40f253c9035b3b5cc38ca796be14df672e68c5c8a141cd2","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-910","topic":"330","title":"Contractors—Construction","area":"Assets","paragraphs":5,"summary":"ASC 330-910 was the inventory guidance specific to construction contractors, addressing how contractors accounted for inventoried costs (e.g., uninstalled materials and precontract costs) under Topic 330. All of its substantive paragraphs — Sections 05 (Overview and Background), 15 (Scope), 25 (Recognition), and 40 (Derecognition) — were superseded by Maintenance Update No. 2019-01, so the subtopic contains no operative guidance. Contractors now look to the general inventory guidance in Topic 330 and to the revenue and contract cost guidance in Topics 606 and 340-40.","concepts":["superseded guidance","construction contractor inventory","industry-specific guidance","contract costs","uninstalled materials","codification cleanup"],"categories":["Inventory and PP&E","Industry-specific","Transition and effective dates"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-910-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
910-330-05-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-15-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-25-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
910-330-40-1 Superseded Maintenance Update No. 2019-01 (PDF) 01/08/2019
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n910-330-05-1 | Superseded | Maintenance Update No. 2019-01 | 01/08/2019 |\n910-330-15-1 |…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:95bda3ad795a0fc6a82ed6a30a6ad09b8713a90adacd80da575fba03d6b35c70","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:16.516Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479238","source_sha256":"ff31c3dfe9895d1eb2ed6fd6e6cf45bfdfb75b656579149e6c4836eaa28360aa"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:76a0dc46c83be5628896422145e5032c61b9b79e1ec96ba34e96405f35e63689","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:16.516Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479238","source_sha256":"ff31c3dfe9895d1eb2ed6fd6e6cf45bfdfb75b656579149e6c4836eaa28360aa"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de3e9dff17e5640ac92377fb03bc5385952fe007a9096e9e12b37748ccc76e3a","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:16.516Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479238","source_sha256":"ff31c3dfe9895d1eb2ed6fd6e6cf45bfdfb75b656579149e6c4836eaa28360aa"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-910-05-1","para":"05-1","html":"
Paragraph superseded by Maintenance Update No. 2019-01.
","snippet":"Paragraph superseded by Maintenance Update No. 2019-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67f123f33baf59bb69b844a14b4943d75b0ab1266e06b0e978a6685d75c6821e","downloaded_from":"2026-09-09T23:52:19.708Z","last_downloaded_at":"2026-09-09T23:52:19.708Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477433","source_sha256":"1aadde53fb56c4064ceeb32dee73c6fb5fa54dc5e4bbfcd9f72986ecc0b604a9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4812061dd27a5fc65fc31433df14edd832611ada499661728dd114ea8f93cda","downloaded_from":"2026-09-09T23:52:19.708Z","last_downloaded_at":"2026-09-09T23:52:19.708Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477433","source_sha256":"1aadde53fb56c4064ceeb32dee73c6fb5fa54dc5e4bbfcd9f72986ecc0b604a9"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5831a5fc371c094937f1b6d1acad9576d6d9c5bb7dde93afeaa04fd6bfdc2fec","downloaded_from":"2026-09-09T23:52:19.708Z","last_downloaded_at":"2026-09-09T23:52:19.708Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477433","source_sha256":"1aadde53fb56c4064ceeb32dee73c6fb5fa54dc5e4bbfcd9f72986ecc0b604a9"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-910-15-1","para":"15-1","html":"
Paragraph superseded by Maintenance Update No. 2019-01.
","snippet":"Paragraph superseded by Maintenance Update No. 2019-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:82d81f600d963b2d5550abab86fd5fdef8b362c5daa79ab6143bf9344a19e281","downloaded_from":"2026-09-09T23:52:23.685Z","last_downloaded_at":"2026-09-09T23:52:23.685Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478736","source_sha256":"43d6b92e37dc641a1295b2cbb0c48fd77753057d853541ca9b2205f5dded4b58"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:edd5a83829a687ac7205a5758472a9ef7fa5a6ca82675ba78c96455bbeeb761c","downloaded_from":"2026-09-09T23:52:23.685Z","last_downloaded_at":"2026-09-09T23:52:23.685Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478736","source_sha256":"43d6b92e37dc641a1295b2cbb0c48fd77753057d853541ca9b2205f5dded4b58"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9644f85f20244c1011e7bfc4187d8a123597f07c2007d96a5b9ec2dba1c045cc","downloaded_from":"2026-09-09T23:52:23.685Z","last_downloaded_at":"2026-09-09T23:52:23.685Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478736","source_sha256":"43d6b92e37dc641a1295b2cbb0c48fd77753057d853541ca9b2205f5dded4b58"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-910-25-1","para":"25-1","html":"
Paragraph superseded by Maintenance Update No. 2019-01.
","snippet":"Paragraph superseded by Maintenance Update No. 2019-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f93e8996c35ce6aa0e95ff7e052ea9434bce213c60b802d7a4d8bced7f876588","downloaded_from":"2026-09-09T23:52:25.574Z","last_downloaded_at":"2026-09-09T23:52:25.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478115","source_sha256":"9a7dffdf8fc924216205c8e7a9f2f5510cc8573550ddc2db0ed2483df9130d92"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1931bd2911421d84dfc434e33ace264e37462fdb28f094d05dc004b1f7c0b1b2","downloaded_from":"2026-09-09T23:52:25.574Z","last_downloaded_at":"2026-09-09T23:52:25.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478115","source_sha256":"9a7dffdf8fc924216205c8e7a9f2f5510cc8573550ddc2db0ed2483df9130d92"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c11173109b612e8876ee8e0ba527cc907ac7efdeba24dd6792df469ed9edcf5b","downloaded_from":"2026-09-09T23:52:25.574Z","last_downloaded_at":"2026-09-09T23:52:25.574Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478115","source_sha256":"9a7dffdf8fc924216205c8e7a9f2f5510cc8573550ddc2db0ed2483df9130d92"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-910-40-1","para":"40-1","html":"
Paragraph superseded by Maintenance Update No. 2019-01.
","snippet":"Paragraph superseded by Maintenance Update No. 2019-01.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9713a52d362b020c1c620b7d1b2fb04f0e3e3cf89088720ae3b7bb7d89e46e7d","downloaded_from":"2026-09-09T23:52:29.423Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477043","source_sha256":"a01f23f74f28f016ba33be07d455a6d3357a4214a47e643203781068c17e7cd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f7f133d16e42d414c7a41cdbcf5e24814af5e28b6925cbc37e157882dc6caab","downloaded_from":"2026-09-09T23:52:29.423Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477043","source_sha256":"a01f23f74f28f016ba33be07d455a6d3357a4214a47e643203781068c17e7cd2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:05cbd2c66b85fdbe13b12b736c0ae0963a93c7c29c383618f9e81b28c1bf1b53","downloaded_from":"2026-09-09T23:52:29.423Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477043","source_sha256":"a01f23f74f28f016ba33be07d455a6d3357a4214a47e643203781068c17e7cd2"}}],"enrichment":{"summary":"ASC 330-910 was the inventory guidance specific to construction contractors, addressing how contractors accounted for inventoried costs (e.g., uninstalled materials and precontract costs) under Topic 330. All of its substantive paragraphs — Sections 05 (Overview and Background), 15 (Scope), 25 (Recognition), and 40 (Derecognition) — were superseded by Maintenance Update No. 2019-01, so the subtopic contains no operative guidance. Contractors now look to the general inventory guidance in Topic 330 and to the revenue and contract cost guidance in Topics 606 and 340-40.","key_points":["Every paragraph of this subtopic (330-910-05-1, 330-910-15-1, 330-910-25-1, and 330-910-40-1) states 'Paragraph superseded by Maintenance Update No. 2019-01.'","Because the subtopic is fully superseded, it imposes no recognition, measurement, or derecognition requirements and should not be cited as authoritative support.","Industry-specific inventory guidance for construction contractors was removed as part of the codification cleanup that followed adoption of Topic 606 and Subtopic 340-40 on revenue and contract costs.","Construction contractors apply the general inventory guidance in Topic 330 to inventoried materials and supplies.","Costs of obtaining and fulfilling contracts with customers (including precontract and uninstalled materials costs) are addressed under Subtopic 340-40 and Topic 606 rather than under 330-910."],"categories":["Inventory and PP&E","Industry-specific","Transition and effective dates"],"audience_level":"intermediate","student_note":"The only thing to know here is that this subtopic is empty — Maintenance Update No. 2019-01 wiped out all four paragraphs. Students sometimes cite legacy contractor inventory rules from 330-910 (or old Topic 605-35 concepts); today the answer lies in Topic 330 generally plus Topic 606 and Subtopic 340-40 for contract costs.","related_topics":["330","340-40","606","910","605-35"],"key_concepts":["superseded guidance","construction contractor inventory","industry-specific guidance","contract costs","uninstalled materials","codification cleanup"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fdb738f08d8227478cc8763fa202bf3015516583e282461b90486d3ba41c498c","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"360-910","title":"Contractors—Construction","topic_title":"Property, Plant, and Equipment","score":0.9001,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8865affe623623d3003f89918000d03b0a183a8004c6a143daf219bd67e3e81","downloaded_from":"2026-09-10T00:07:59.323Z","last_downloaded_at":"2026-09-10T00:08:11.902Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-910","title":"Contractors—Construction","topic_title":"Receivables","score":0.8587,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2598b539b3ba3ae67b183c96ce128a3f699e68f1735591ee1cbe6cfc5b8257a6","downloaded_from":"2026-09-09T23:28:06.186Z","last_downloaded_at":"2026-09-09T23:28:18.985Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"235-910","title":"Contractors—Construction","topic_title":"Notes to Financial Statements","score":0.8009,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d33101c03cbaac82de192ba8af9a45ff063677c802f7dcfb58fe72d55d01ee04","downloaded_from":"2026-09-09T23:14:39.794Z","last_downloaded_at":"2026-09-09T23:14:49.098Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"340-910","title":"Contractors—Construction","topic_title":"Other Assets and Deferred Costs","score":0.7631,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e9c76236c1134cc773e4faf9f1176dda165df5475360b2695fd03dc35094c941","downloaded_from":"2026-09-09T23:56:37.773Z","last_downloaded_at":"2026-09-09T23:56:47.153Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"225-912","title":"Contractors—Federal Government","topic_title":"Income Statement","score":0.718,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d5359bee29118e083498e50c3d62dc2359a7660dfc8d38fcd9d8a5fb5225ea8","downloaded_from":"2026-09-09T23:09:01.316Z","last_downloaded_at":"2026-09-09T23:09:08.768Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"305-10","title":"Overall","topic_title":"Cash and Cash Equivalents","score":0.6669,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e44da7cda5d8113e9c6780fb2173305259811d173910ec2637b42a14fe73607","downloaded_from":"2026-09-09T23:23:45.283Z","last_downloaded_at":"2026-09-09T23:24:00.799Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-908","title":"Airlines","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f46ece58b5471383770bc19060791fa1b17a75b72ddaaf5d8c9899b797bbacd1","downloaded_from":"2026-09-09T23:51:55.917Z","last_downloaded_at":"2026-09-09T23:52:13.368Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-912","title":"Contractors—Federal Government","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15f463e593fcc652632a8838a9e42669ca0c0c5c8c08daa3cf7dbdacd3e1deb5","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:45.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e54b242e2b2526874fc1090160ebe5ab00bd51f98a11b37fe31f33a4960c103","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-912","topic":"330","title":"Contractors—Federal Government","area":"Assets","paragraphs":7,"summary":"This Subtopic gives government contractors narrow guidance on inventory affected by contracts terminated for the convenience of the government, plus disclosure of the accounting policy for costs included in contract inventory. If inventory whose costs are in the termination claim is later reacquired by the contractor, the reacquisition value is recorded as a purchase; in \"no-cost settlements,\" where the contractor waives its claim, no sale transaction arises and retained inventory is accounted for under ordinary inventory methods rather than as a purchase.","concepts":["contract termination for convenience of the government","termination claim","reacquired inventory","no-cost settlement","contract inventory","inventory accounting policy disclosure","government contractor"],"categories":["Industry-specific","Recognition","Disclosure","Inventory and PP&E"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-912-00-1","para":"00-1","html":"
No updates have been made to this subtopic.
","snippet":"No updates have been made to this subtopic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7839d04d0573e966c77cc6aa797d3158672349664f29feaae7ae652a6100c077","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:31.116Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479079","source_sha256":"358801140f1c3afda6009e231e344f605c16e566a38a1b8cdd5aa9f64c1add46"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b2dffc3a63f3ea9c4ee4a75ccad6cf7d95019c3fc814bdc9afaf44716bd42b00","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:31.116Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479079","source_sha256":"358801140f1c3afda6009e231e344f605c16e566a38a1b8cdd5aa9f64c1add46"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:286aae253154c5ba146bb97dbeae758585a0ebdc4addfd48fe8e02b6cf0a695d","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:31.116Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479079","source_sha256":"358801140f1c3afda6009e231e344f605c16e566a38a1b8cdd5aa9f64c1add46"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-912-05-1","para":"05-1","html":"
This Subtopic provides guidance to government contractors related to inventory reacquired in a contract termination for the convenience of the government and the costs included in contract inventory.
","snippet":"This Subtopic provides guidance to government contractors related to inventory reacquired in a contract termination for the convenience of the government and the costs included in contract inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad04e017d29d7a50137479b746d924929f54d9eba99db6b0b6df653e1f44a013","downloaded_from":"2026-09-09T23:52:34.600Z","last_downloaded_at":"2026-09-09T23:52:34.600Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479208","source_sha256":"6d482d339ae5eb18cec833e953996e4d176564541084f31eb8dc0df9b5398e1b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5129f893382416831c483f9a0d324992ea6ef1e69b9624021cf990f9c32cbaaa","downloaded_from":"2026-09-09T23:52:34.600Z","last_downloaded_at":"2026-09-09T23:52:34.600Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479208","source_sha256":"6d482d339ae5eb18cec833e953996e4d176564541084f31eb8dc0df9b5398e1b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7ea1d0d36c523c313bea16d61584247a634b50ffcf69e5509e2c23402aa9d56b","downloaded_from":"2026-09-09T23:52:34.600Z","last_downloaded_at":"2026-09-09T23:52:34.600Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479208","source_sha256":"6d482d339ae5eb18cec833e953996e4d176564541084f31eb8dc0df9b5398e1b"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-912-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 912-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 912-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50fb86aa2c3ac4ae96a1a69cda898463184174f61b1fae2d494c5a46740eb7a3","downloaded_from":"2026-09-09T23:52:36.831Z","last_downloaded_at":"2026-09-09T23:52:36.831Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477343","source_sha256":"d2d22d3abff7c8bd92515710284af04742826ca4cdf003dd3b17a9b201d57741"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f148772fc3eab969f95408122937fe779b7c7aa87dd694722c9ecf84e5796a88","downloaded_from":"2026-09-09T23:52:36.831Z","last_downloaded_at":"2026-09-09T23:52:36.831Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477343","source_sha256":"d2d22d3abff7c8bd92515710284af04742826ca4cdf003dd3b17a9b201d57741"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:930cb81cb854dce8fb954721643d17528aba7ca1c6358f0c0237b3583b152c89","downloaded_from":"2026-09-09T23:52:36.831Z","last_downloaded_at":"2026-09-09T23:52:36.831Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477343","source_sha256":"d2d22d3abff7c8bd92515710284af04742826ca4cdf003dd3b17a9b201d57741"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Termination Claims","paragraphs":[{"citation":"330-912-25-1","para":"25-1","html":"
If inventory items whose costs are included in the termination claim are subsequently reacquired by the contractor the reacquisition value of those items shall be recorded as a purchase and applied in accordance with the guidance in paragraph 912-310-35-1.
","snippet":"If inventory items whose costs are included in the termination claim are subsequently reacquired by the contractor the reacquisition value of those items shall be recorded as a purchase and applied in accordance with the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3156b695523e7af076da69e0c95833114916e7dbb61c81d784449a067d4e471a","downloaded_from":"2026-09-09T23:52:39.099Z","last_downloaded_at":"2026-09-09T23:52:39.099Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478182","source_sha256":"c05fb27b99fb481f877fdd695926e76d0263405b3f6de03af57d29f74f739d5c"}},{"citation":"330-912-25-2","para":"25-2","html":"
So called no-cost settlements—those in which the contractor waives the right to make a claim—result in no transaction that could be reflected in sales. The costs applicable to the contract shall be given their usual classification. The inventory retained shall not be treated as a purchase but shall be accounted for according to the usual methods and standards applicable to inventories.
","snippet":"So called no-cost settlements—those in which the contractor waives the right to make a claim—result in no transaction that could be reflected in sales. The costs applicable to the contract shall be given their usual clas…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:372872e74a90d0005c1d761d12342e27a5648d9202de73b1b88bf0cad1d8c868","downloaded_from":"2026-09-09T23:52:39.099Z","last_downloaded_at":"2026-09-09T23:52:39.099Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478182","source_sha256":"c05fb27b99fb481f877fdd695926e76d0263405b3f6de03af57d29f74f739d5c"}},{"citation":"330-912-25-3","para":"25-3","html":"
For a discussion of inventory retained or sold to outsiders that relates to terminated contracts for the convenience of the government, see paragraphs
912-310-25-4 through 25-5
.
","snippet":"For a discussion of inventory retained or sold to outsiders that relates to terminated contracts for the convenience of the government, see paragraphs 912-310-25-4 through 25-5.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:512406db431bea2971e0ace640443a6d54cfdf93c2d5ff6295e41e5a81bda05c","downloaded_from":"2026-09-09T23:52:39.099Z","last_downloaded_at":"2026-09-09T23:52:39.099Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478182","source_sha256":"c05fb27b99fb481f877fdd695926e76d0263405b3f6de03af57d29f74f739d5c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:492d1be17726abb0d4eb5edc88e6080c8abe3b4498848eee46c4eb4132d08af4","downloaded_from":"2026-09-09T23:52:39.099Z","last_downloaded_at":"2026-09-09T23:52:39.099Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478182","source_sha256":"c05fb27b99fb481f877fdd695926e76d0263405b3f6de03af57d29f74f739d5c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c13c65443fa04fb4623916853e41190b19b6cb912a49c44d2624a68a751b252","downloaded_from":"2026-09-09T23:52:39.099Z","last_downloaded_at":"2026-09-09T23:52:39.099Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478182","source_sha256":"c05fb27b99fb481f877fdd695926e76d0263405b3f6de03af57d29f74f739d5c"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":"Contract Inventory","paragraphs":[{"citation":"330-912-50-1","para":"50-1","html":"
A contractor's accounting policies with respect to costs included in inventory shall be disclosed.
","snippet":"A contractor's accounting policies with respect to costs included in inventory shall be disclosed.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:831ac944e5353c652a08a2e0672f9dff8be579dfc98240770870e932b542cdda","downloaded_from":"2026-09-09T23:52:41.951Z","last_downloaded_at":"2026-09-09T23:52:41.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478411","source_sha256":"b0ada1b1d04ac86f514b374413e27c94236dde696a0ebc1869736920e42c4ca5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b5ecb171f2d8b1ad1e5f8a9a92e5981dc9ac67a5761a93d26213c0055f001dd9","downloaded_from":"2026-09-09T23:52:41.951Z","last_downloaded_at":"2026-09-09T23:52:41.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478411","source_sha256":"b0ada1b1d04ac86f514b374413e27c94236dde696a0ebc1869736920e42c4ca5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:706cc4b19a2d8ab61d15ef2a73644e64d0eea73cbb33e9794753caf88874ab58","downloaded_from":"2026-09-09T23:52:41.951Z","last_downloaded_at":"2026-09-09T23:52:41.951Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478411","source_sha256":"b0ada1b1d04ac86f514b374413e27c94236dde696a0ebc1869736920e42c4ca5"}}],"enrichment":{"summary":"This Subtopic gives government contractors narrow guidance on inventory affected by contracts terminated for the convenience of the government, plus disclosure of the accounting policy for costs included in contract inventory. If inventory whose costs are in the termination claim is later reacquired by the contractor, the reacquisition value is recorded as a purchase; in \"no-cost settlements,\" where the contractor waives its claim, no sale transaction arises and retained inventory is accounted for under ordinary inventory methods rather than as a purchase.","key_points":["This Subtopic addresses inventory reacquired in a contract termination for the convenience of the government and the costs included in contract inventory (330-912-05-1).","Scope follows Section 912-10-15, the Overall Subtopic for federal government contractors (330-912-15-1).","Inventory items whose costs are included in a termination claim and later reacquired by the contractor are recorded at reacquisition value as a purchase, applied per paragraph 912-310-35-1 (330-912-25-1).","In no-cost settlements, where the contractor waives its right to make a claim, there is no transaction to reflect in sales; contract costs keep their usual classification and retained inventory is accounted for under normal inventory methods and standards, not as a purchase (330-912-25-2).","Guidance on inventory retained or sold to outsiders relating to contracts terminated for the government's convenience is in paragraphs 912-310-25-4 through 25-5 (330-912-25-3).","A contractor must disclose its accounting policies with respect to costs included in inventory (330-912-50-1)."],"categories":["Industry-specific","Recognition","Disclosure","Inventory and PP&E"],"audience_level":"intermediate","student_note":"Tested point: reacquisition of inventory covered by a termination claim is a purchase, but inventory retained in a no-cost settlement is not — students often incorrectly record a sale or purchase in the no-cost case when no transaction has occurred.","related_topics":["912-10","912-310","330-10","912-20","912-405"],"key_concepts":["contract termination for convenience of the government","termination claim","reacquired inventory","no-cost settlement","contract inventory","inventory accounting policy disclosure","government contractor"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d25028fada5d5b336d6772e71322a509491c827ccf3ea3d089653f32301310bc","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:45.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"310-912","title":"Contractors—Federal Government","topic_title":"Receivables","score":0.7823,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f87c5daa12bc77320060b18c19229936d6503611829ed36c8948f7e9c2e74598","downloaded_from":"2026-09-09T23:28:22.756Z","last_downloaded_at":"2026-09-09T23:28:44.996Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"912-20","title":"Contract Costs","topic_title":"Contractors—Federal Government","score":0.752,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9165b7ba527b2d8d830d39c7e7fb004c4ba97ea61759af13801694ab9f8dd26","downloaded_from":"2026-09-10T02:10:07.952Z","last_downloaded_at":"2026-09-10T02:10:28.388Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"275-912","title":"Contractors—Federal Government","topic_title":"Risks and Uncertainties","score":0.6955,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9545b1c4759437f1e7f18681a10463534df936aec637b3539209f639db7a117b","downloaded_from":"2026-09-09T23:22:22.572Z","last_downloaded_at":"2026-09-09T23:22:31.368Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"450-912","title":"Contractors—Federal Government","topic_title":"Contingencies","score":0.6878,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ff80fed685658dc9d5532a5a17f0455d5807347dc2caf72d672e788a35cd6c3","downloaded_from":"2026-09-10T00:28:13.837Z","last_downloaded_at":"2026-09-10T00:28:25.535Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"912-10","title":"Overall","topic_title":"Contractors—Federal Government","score":0.6873,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f766e241e8fc2833475fb87a297b61254c77c283acd35ab3cd0d3d15d02a81c","downloaded_from":"2026-09-10T02:09:56.619Z","last_downloaded_at":"2026-09-10T02:10:05.382Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"220-912","title":"Contractors—Federal Government","topic_title":"Income Statement—Reporting Comprehensive Income","score":0.6709,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c1c06c0a1a46f1b6c6167ed19e5c0735267084f3760d2290ef8b729040f70bf","downloaded_from":"2026-09-09T23:05:16.949Z","last_downloaded_at":"2026-09-09T23:05:24.159Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-910","title":"Contractors—Construction","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3dd6d0485160979396b81edf87605401fbbd8d9ba26546970ee927ddb0dcf90e","downloaded_from":"2026-09-09T23:52:16.516Z","last_downloaded_at":"2026-09-09T23:52:29.423Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-926","title":"Entertainment—Films","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a789242468b19cd7a9e9f13dfa774357b44bd16d94547d699c8811f451a7123d","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:413e4508403bd61b5a15dfed79dcdef221632f91196cf0f610f0058741596b15","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:45.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-926","topic":"330","title":"Entertainment—Films","area":"Assets","paragraphs":3,"summary":"This subtopic applies inventory accounting to film production and distribution entities that hold physical products for sale, such as videocassettes and digital video discs. Its core rule is that at each balance sheet date the entity must evaluate these product inventories for net realizable value and obsolescence exposure and record appropriate adjustments (330-926-35-1). Scope follows the Entertainment—Films Overall Subtopic scope in Section 926-10-15.","concepts":["inventories of products held for sale","net realizable value","obsolescence exposure","balance sheet date evaluation","film distribution","physical media inventory"],"categories":["Subsequent measurement","Inventory and PP&E","Industry-specific","Impairment"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-926-05-1","para":"05-1","html":"
This Subtopic presents accounting standards for entities in the film production and distribution industry that carry inventories of products such as videocassettes and video discs.
","snippet":"This Subtopic presents accounting standards for entities in the film production and distribution industry that carry inventories of products such as videocassettes and video discs.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bafdc31fbe1eb7974c9a2f3d789c4e443414d465f82c810baca5c4666b9323c6","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:47.274Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479065","source_sha256":"fbf5f76845b0e95fdefc3505809659c90c11328d0fbc43f391905b9bd71a0a79"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:06a79b213ca32e95283dd8af296e173b211efba3fc4c07647c3ac81765862731","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:47.274Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479065","source_sha256":"fbf5f76845b0e95fdefc3505809659c90c11328d0fbc43f391905b9bd71a0a79"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ac005565602fb7480aaede3efa0b43a176eae9ebd1d8e273bcc1328bfe7b3e0","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:47.274Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479065","source_sha256":"fbf5f76845b0e95fdefc3505809659c90c11328d0fbc43f391905b9bd71a0a79"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-926-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 926-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 926-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:804fb633fd3f5b9d8ad88926a986c521dbef69b387b875861885d79ccbbf779c","downloaded_from":"2026-09-09T23:52:50.157Z","last_downloaded_at":"2026-09-09T23:52:50.157Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478356","source_sha256":"116c80629c0bd024e704d27a55d0f3733363528c8f5c0ec146388400a9baf4c2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:10cdab7ff55b6be1c79abdcfcaf71a9f929f802a42526444d9f6a57c2219ca77","downloaded_from":"2026-09-09T23:52:50.157Z","last_downloaded_at":"2026-09-09T23:52:50.157Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478356","source_sha256":"116c80629c0bd024e704d27a55d0f3733363528c8f5c0ec146388400a9baf4c2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5ae2fe4135e50e0ff31589127e624a614d9a46add64e25c3833b987a6cb4347","downloaded_from":"2026-09-09T23:52:50.157Z","last_downloaded_at":"2026-09-09T23:52:50.157Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478356","source_sha256":"116c80629c0bd024e704d27a55d0f3733363528c8f5c0ec146388400a9baf4c2"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Products Held for Sale","paragraphs":[{"citation":"330-926-35-1","para":"35-1","html":"
An entity shall, at each balance sheet date, evaluate inventories of products held for sale, such as videocassettes and digital video discs, for net realizable value and obsolescence exposures, with appropriate adjustments recorded as necessary.
","snippet":"An entity shall, at each balance sheet date, evaluate inventories of products held for sale, such as videocassettes and digital video discs, for net realizable value and obsolescence exposures, with appropriate adjustmen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:14cd64aa4aad9fb377bdb21d075fdd2dd6b6f475a6d8b21f4d700ab8d95ce0e2","downloaded_from":"2026-09-09T23:52:53.935Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477272","source_sha256":"c0172f656c36376be5b792b3bb482f9a0013593a6e3365af6684242a0c8b3d8a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c3b240822bdaa3b6396cfc2b4beecbce07e878f7a442bc58311d4e5030c79c55","downloaded_from":"2026-09-09T23:52:53.935Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477272","source_sha256":"c0172f656c36376be5b792b3bb482f9a0013593a6e3365af6684242a0c8b3d8a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c04f4a9d1151928b255033953813c8e0f7530bda2ab1edf6b303c3c6419fe20a","downloaded_from":"2026-09-09T23:52:53.935Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477272","source_sha256":"c0172f656c36376be5b792b3bb482f9a0013593a6e3365af6684242a0c8b3d8a"}}],"enrichment":{"summary":"This subtopic applies inventory accounting to film production and distribution entities that hold physical products for sale, such as videocassettes and digital video discs. Its core rule is that at each balance sheet date the entity must evaluate these product inventories for net realizable value and obsolescence exposure and record appropriate adjustments (330-926-35-1). Scope follows the Entertainment—Films Overall Subtopic scope in Section 926-10-15.","key_points":["The Subtopic covers accounting for inventories of tangible products, such as videocassettes and video discs, carried by film production and distribution entities (330-926-05-1).","Scope and scope exceptions are the same as those in the Entertainment—Films Overall Subtopic, Section 926-10-15 (330-926-15-1).","At each balance sheet date, inventories of products held for sale must be evaluated for net realizable value and for obsolescence exposures (330-926-35-1).","Adjustments must be recorded as necessary based on that evaluation (330-926-35-1)."],"categories":["Subsequent measurement","Inventory and PP&E","Industry-specific","Impairment"],"audience_level":"intermediate","student_note":"This is a short industry-specific overlay: it tells you that a film entity's physical media inventory is measured like ordinary inventory (NRV plus obsolescence), not under the film cost capitalization and amortization model. The common confusion is mixing up film costs (capitalized under 926-20) with videocassette/DVD product inventory held for sale, which is governed here and by ASC 330.","related_topics":["330-10","926-10","926-20","926-605"],"key_concepts":["inventories of products held for sale","net realizable value","obsolescence exposure","balance sheet date evaluation","film distribution","physical media inventory"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d2360757aa6292a1edbc0f23544be797228932a6b20f001b146ce9db479d3814","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"705-926","title":"Entertainment—Films","topic_title":"Cost of Sales and Services","score":0.8104,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6bef2911a6c819e0cdc13e94f1ded784943bcaa6776ef97872f6db536f8c4ed4","downloaded_from":"2026-09-10T00:56:26.941Z","last_downloaded_at":"2026-09-10T00:56:38.121Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"926-10","title":"Overall","topic_title":"Entertainment—Films","score":0.7858,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15ba19b842af59379bd3722cb61c46059b07f118cf1f7b1558e62216c5ed0f23","downloaded_from":"2026-09-10T02:11:25.730Z","last_downloaded_at":"2026-09-10T02:11:34.569Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"835-926","title":"Entertainment—Films","topic_title":"Interest","score":0.7559,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e2c23055cfc238322a019a97137d67b3c99fc56f9d56cff22e4331135b407df","downloaded_from":"2026-09-10T01:50:45.748Z","last_downloaded_at":"2026-09-10T01:50:51.672Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-926","title":"Entertainment—Films","topic_title":"Other Expenses","score":0.7335,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:728486a6641cbc867f0faed292710b34b6514ecac53ba4e27065e3588c3b223f","downloaded_from":"2026-09-10T01:10:05.518Z","last_downloaded_at":"2026-09-10T01:10:20.638Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"230-926","title":"Entertainment—Films","topic_title":"Statement of Cash Flows","score":0.7206,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a42acd65fb563de5bb75bc5ebba9fccc34bae90d3df50430e4aad5fc5d1e5e75","downloaded_from":"2026-09-09T23:12:42.609Z","last_downloaded_at":"2026-09-09T23:12:53.235Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"920-10","title":"Overall","topic_title":"Entertainment—Broadcasters","score":0.694,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0f19651d334d6ec24897fe08c9f04fd01025e8b8d9b877425a1983781d6c0fed","downloaded_from":"2026-09-10T02:10:41.501Z","last_downloaded_at":"2026-09-10T02:10:50.750Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-912","title":"Contractors—Federal Government","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15f463e593fcc652632a8838a9e42669ca0c0c5c8c08daa3cf7dbdacd3e1deb5","downloaded_from":"2026-09-09T23:52:31.116Z","last_downloaded_at":"2026-09-09T23:52:45.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-930","title":"Extractive Activities—Mining","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b1d063db4b65be56bb9344902e258856284c4b88c950b2c6941b712219ea799","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f71f7cbb88d07771a30b635529921e415bb4572b11fbf0d46fd8e638c6ce262d","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-930","topic":"330","title":"Extractive Activities—Mining","area":"Assets","paragraphs":4,"summary":"This subtopic governs how mining entities account for stripping costs — the costs of removing overburden and waste materials to access ore — incurred during the production phase of a mine. The core rule is that post-production-phase stripping costs are variable production costs that must be capitalized into the cost of the inventory (ore) extracted in the same period the stripping costs are incurred. Stripping costs incurred before the production phase (i.e., during development) are outside the scope of this subtopic.","concepts":["stripping costs","production phase","variable production costs","inventory costing","overburden removal","mining operations","development phase costs"],"categories":["Inventory and PP&E","Initial measurement","Industry-specific","Recognition"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-930-05-1","para":"05-1","html":"
This Subtopic addresses the accounting for stripping costs incurred in the production phase of mining operations.
","snippet":"This Subtopic addresses the accounting for stripping costs incurred in the production phase of mining operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8bf252fa0b555c8b8f819faf729f664a61bfe1eb93a1d803ab64167c3e7eb014","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:52:57.013Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479150","source_sha256":"5b80072f922d2a20660ac10dfd6c9471351ccecb3effdec101303c67b867880c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0bf0e98070cb0b0963c0fc4ffbf63488ac0c2827053d56971e6fad0f39b7951a","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:52:57.013Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479150","source_sha256":"5b80072f922d2a20660ac10dfd6c9471351ccecb3effdec101303c67b867880c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8675b71e03ec124b559775965252341b9b28f2293cc7093609b07dc896229a47","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:52:57.013Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479150","source_sha256":"5b80072f922d2a20660ac10dfd6c9471351ccecb3effdec101303c67b867880c"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-930-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 930-10-15, with specific transaction exceptions noted below.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 930-10-15, with specific transaction exceptions noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:593f92180efe485d481c4cea1436b3b24867aff1a0b88b354f4f873e5a56df46","downloaded_from":"2026-09-09T23:52:59.931Z","last_downloaded_at":"2026-09-09T23:52:59.931Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478000","source_sha256":"1fdfda2c4164e78a09abca0d7ce9c43fcd37152b5be4353bb889841365b3ac22"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a42dfcf55fa6c7efbfe634bad47ddca939d5ba3d82e8c1387b4cb5e0fb9474f","downloaded_from":"2026-09-09T23:52:59.931Z","last_downloaded_at":"2026-09-09T23:52:59.931Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478000","source_sha256":"1fdfda2c4164e78a09abca0d7ce9c43fcd37152b5be4353bb889841365b3ac22"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"330-930-15-2","para":"15-2","html":"
The guidance in this Subtopic does not apply to the following transactions:
  1. a
    Stripping costs incurred before the production phase.
","snippet":"The guidance in this Subtopic does not apply to the following transactions:\n(a) Stripping costs incurred before the production phase.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:524a24dc3d484a1172595496082fc3bc69ba8efa86ae0ecff6e663619f1d8f5f","downloaded_from":"2026-09-09T23:52:59.931Z","last_downloaded_at":"2026-09-09T23:52:59.931Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478000","source_sha256":"1fdfda2c4164e78a09abca0d7ce9c43fcd37152b5be4353bb889841365b3ac22"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:781475880a2fd528fe2a089cf1d10d18cbc477acafe6be9e82893760f5620ecd","downloaded_from":"2026-09-09T23:52:59.931Z","last_downloaded_at":"2026-09-09T23:52:59.931Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478000","source_sha256":"1fdfda2c4164e78a09abca0d7ce9c43fcd37152b5be4353bb889841365b3ac22"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1b200f40bae934c4d25c136added14b26f9b7b454b746c845473bc5d49b10c37","downloaded_from":"2026-09-09T23:52:59.931Z","last_downloaded_at":"2026-09-09T23:52:59.931Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478000","source_sha256":"1fdfda2c4164e78a09abca0d7ce9c43fcd37152b5be4353bb889841365b3ac22"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Production Phase Stripping Costs","paragraphs":[{"citation":"330-930-25-1","para":"25-1","html":"
Stripping costs incurred during the production phase of a mine are variable production costs that should be included in the costs of the inventory produced (that is, extracted) during the period that the stripping costs are incurred.
","snippet":"Stripping costs incurred during the production phase of a mine are variable production costs that should be included in the costs of the inventory produced (that is, extracted) during the period that the stripping costs …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cde2906dc824cbeeaf897a99f037104cf3744da5589fe47e9c8faec156ee2e61","downloaded_from":"2026-09-09T23:53:06.919Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477618","source_sha256":"e126f7431470a19c89d5ca52f4328565458889a51bbbd426c11efbd37fa35f42"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a7a13b8c285d57561fa79a0117f202939a11d76b492135f3f124c1d8fb2e6f6d","downloaded_from":"2026-09-09T23:53:06.919Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477618","source_sha256":"e126f7431470a19c89d5ca52f4328565458889a51bbbd426c11efbd37fa35f42"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cca7032905310bffbfc076d928e30003c41dd41d380484e27ed37383306d0b39","downloaded_from":"2026-09-09T23:53:06.919Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477618","source_sha256":"e126f7431470a19c89d5ca52f4328565458889a51bbbd426c11efbd37fa35f42"}}],"enrichment":{"summary":"This subtopic governs how mining entities account for stripping costs — the costs of removing overburden and waste materials to access ore — incurred during the production phase of a mine. The core rule is that post-production-phase stripping costs are variable production costs that must be capitalized into the cost of the inventory (ore) extracted in the same period the stripping costs are incurred. Stripping costs incurred before the production phase (i.e., during development) are outside the scope of this subtopic.","key_points":["This Subtopic addresses accounting for stripping costs incurred in the production phase of mining operations (330-930-05-1).","Stripping costs incurred during the production phase are variable production costs that should be included in the costs of the inventory produced (extracted) during the period the stripping costs are incurred (330-930-25-1).","The guidance does not apply to stripping costs incurred before the production phase (330-930-15-2(a)).","Scope otherwise follows the Extractive Activities—Mining Overall Subtopic scope in Section 930-10-15 (330-930-15-1).","Because the costs attach to inventory extracted in the same period, they cannot be deferred and amortized over the mine's life or over future periods benefited."],"categories":["Inventory and PP&E","Initial measurement","Industry-specific","Recognition"],"audience_level":"intermediate","student_note":"The exam trap is timing: only production-phase stripping costs are inventoriable under this subtopic, and they hit inventory in the period incurred — students often wrongly assume stripping costs can be capitalized as a long-lived asset and amortized over the ore body's life. Identify whether the mine has reached the production phase before applying the rule.","related_topics":["930-10","930-330","330-10","930-805","360-10"],"key_concepts":["stripping costs","production phase","variable production costs","inventory costing","overburden removal","mining operations","development phase costs"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8b9df79ba6e0ac3e336bbf8e27287e2dbe2e856efce4f195a56b9dd84a4ec218","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"930-10","title":"Overall","topic_title":"Extractive Activities—Mining","score":0.7388,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab5bf8547eb32be406459285784a2cbad134763d207e8848bf9e82ba19bf84c1","downloaded_from":"2026-09-10T02:12:20.867Z","last_downloaded_at":"2026-09-10T02:12:28.386Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-930","title":"Extractive Activities—Mining","topic_title":"Property, Plant, and Equipment","score":0.7133,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d455edc1c9d15d870321fa5b96abc2139eb03e9ad1ce38afbf6a9e785fcbae4","downloaded_from":"2026-09-10T00:08:31.985Z","last_downloaded_at":"2026-09-10T00:08:42.644Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-932","title":"Extractive Activities—Oil and Gas","topic_title":"Inventory","score":0.7067,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:318355c7550d64d4ee782ad218fc25ae9b4571f10f2d35fa2726276676f6cc27","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"810-930","title":"Extractive Activities—Mining","topic_title":"Consolidation","score":0.7046,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:81974f15d20e7a0a6ba5f6e4808a62f439533e0f0de675221506f167052c0554","downloaded_from":"2026-09-10T01:30:58.491Z","last_downloaded_at":"2026-09-10T01:31:02.882Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"805-930","title":"Extractive Activities—Mining","topic_title":"Business Combinations","score":0.684,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:39de6455d10c9b3be41fdb0060ac030afd552c40f33ccec94065088d4eb13421","downloaded_from":"2026-09-10T01:26:18.388Z","last_downloaded_at":"2026-09-10T01:26:26.818Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-932","title":"Extractive Activities—Oil and Gas","topic_title":"Other Expenses","score":0.6433,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d278c43f95dcb5d60ae1f07d12f61c431df100e472cc07fecd4802a5c311228e","downloaded_from":"2026-09-10T01:10:32.559Z","last_downloaded_at":"2026-09-10T01:10:47.285Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-926","title":"Entertainment—Films","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a789242468b19cd7a9e9f13dfa774357b44bd16d94547d699c8811f451a7123d","downloaded_from":"2026-09-09T23:52:47.274Z","last_downloaded_at":"2026-09-09T23:52:53.935Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-932","title":"Extractive Activities—Oil and Gas","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c553a5911f1d457d49a1aea9a50b0b92553e2999c8ea291aad0f554142805c2a","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff60c683e895d00c3e27e6e20e6eb8aade999dd6c473911b81d8951e4c4ecc50","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-932","topic":"330","title":"Extractive Activities—Oil and Gas","area":"Assets","paragraphs":5,"summary":"This Subtopic governs inventory accounting for entities in the oil and gas (extractive activities) industry, borrowing the scope of ASC 932-10-15. Its core rules are prohibitions: energy trading contracts that are not derivatives under Topic 815 may not be subsequently measured at fair value through earnings, and physical inventories may not be measured at fair value unless another Topic permits it. Exchanges (buying and selling inventory with the same counterparty) are directed to ASC 845-10-15-5 through 15-9.","concepts":["energy trading contracts","physical inventory","fair value measurement prohibition","inventory exchanges with same counterparty","oil and gas extractive activities","nonmonetary transactions"],"categories":["Subsequent measurement","Industry-specific","Inventory and PP&E","Fair value"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-932-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
932-330-35-1AmendedAccounting Standards Update No. 2016-1912/14/2016
932-330-35-1AmendedAccounting Standards Update No. 2012-0410/01/2012
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n932-330-35-1 | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\n932-330-…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8a867962c533363ca0f738e762617486d2e6b11245671f3aef8d51b5f96338e2","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:09.584Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477933","source_sha256":"641b03cd7d062f7a0b3096ddd34d2b19700cf65b3896c2d43bca8857257e5e7e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0162ea5bed95ad4056dd816f2851062d5fd29da95fc2ea0b7932ba9640b5087","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:09.584Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477933","source_sha256":"641b03cd7d062f7a0b3096ddd34d2b19700cf65b3896c2d43bca8857257e5e7e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:903befeb8673be97709a1b07b2c2074fb78aa8030aba4027f39a8dd622e00fbc","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:09.584Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477933","source_sha256":"641b03cd7d062f7a0b3096ddd34d2b19700cf65b3896c2d43bca8857257e5e7e"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-932-05-1","para":"05-1","html":"
This Subtopic addresses accounting for inventory in the oil and gas industry.
","snippet":"This Subtopic addresses accounting for inventory in the oil and gas industry.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c89252ba6f12f077c8d1a5c2a97f2b851fd116e8c2245f59bc7acbd6e873319f","downloaded_from":"2026-09-09T23:53:12.697Z","last_downloaded_at":"2026-09-09T23:53:12.697Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478433","source_sha256":"d1dabd256c7620df846ff5e6b0b903c857056f62b2acc5096ad74659d7359272"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:19c2ddfe1772f400cd63e8651082841ad85aa098e47e1a4a78d73f7d7c97d89f","downloaded_from":"2026-09-09T23:53:12.697Z","last_downloaded_at":"2026-09-09T23:53:12.697Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478433","source_sha256":"d1dabd256c7620df846ff5e6b0b903c857056f62b2acc5096ad74659d7359272"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3bbac48ba1261de608be9abfac483bd43519b6fe0ab50f8a3f37090b0e1527b","downloaded_from":"2026-09-09T23:53:12.697Z","last_downloaded_at":"2026-09-09T23:53:12.697Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478433","source_sha256":"d1dabd256c7620df846ff5e6b0b903c857056f62b2acc5096ad74659d7359272"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-932-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 932-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 932-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b6f848b7880f6153c19368f3a77ee1c60d514d46b6a645da30dfdfa86a6dae47","downloaded_from":"2026-09-09T23:53:16.760Z","last_downloaded_at":"2026-09-09T23:53:16.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478049","source_sha256":"6740ca68013ac39543a5a492df98326193482faf17a63fb38d36b9b256d68368"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c88b3c0a5e01e0dbf8e05aa7ac12f78c001336232619c6b9936f99c46e2afe94","downloaded_from":"2026-09-09T23:53:16.760Z","last_downloaded_at":"2026-09-09T23:53:16.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478049","source_sha256":"6740ca68013ac39543a5a492df98326193482faf17a63fb38d36b9b256d68368"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:84e98371588a13d716895bf59d910caf1633471131861c87880ad5356493618a","downloaded_from":"2026-09-09T23:53:16.760Z","last_downloaded_at":"2026-09-09T23:53:16.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478049","source_sha256":"6740ca68013ac39543a5a492df98326193482faf17a63fb38d36b9b256d68368"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-932-35-1","para":"35-1","html":"
Energy trading contracts that are not accounted for as derivatives in accordance with Topic 815 on derivatives and hedging shall not be measured subsequently at fair value through earnings. Entities shall not measure physical inventories at fair value, except as provided by guidance in other Topics.
","snippet":"Energy trading contracts that are not accounted for as derivatives in accordance with Topic 815 on derivatives and hedging shall not be measured subsequently at fair value through earnings. Entities shall not measure phy…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a9b17d593c83322638970c85cc2707f122658bdd810120001ea4db0bc35c5290","downloaded_from":"2026-09-09T23:53:19.048Z","last_downloaded_at":"2026-09-09T23:53:19.048Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478147","source_sha256":"83f83ecb8296b440356c9d03a8e689f59cb2dee3ac6d50bd02c9f295a7cce6a1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5046b53f104bf3ed08b8b750656f326ceb5dba9c7c961ec1b8473425277dfbe6","downloaded_from":"2026-09-09T23:53:19.048Z","last_downloaded_at":"2026-09-09T23:53:19.048Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478147","source_sha256":"83f83ecb8296b440356c9d03a8e689f59cb2dee3ac6d50bd02c9f295a7cce6a1"}},{"block":null,"heading":"Exchanges of Inventory","paragraphs":[{"citation":"330-932-35-2","para":"35-2","html":"
For exchanges of inventories, the buying and selling of inventory with the same counterparty, see paragraphs
845-10-15-5 through 15-9
.
","snippet":"For exchanges of inventories, the buying and selling of inventory with the same counterparty, see paragraphs 845-10-15-5 through 15-9.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a617c453c7aea8516a5585ae602e4f501a76d723bd459c00c224ef9724fbc42c","downloaded_from":"2026-09-09T23:53:19.048Z","last_downloaded_at":"2026-09-09T23:53:19.048Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478147","source_sha256":"83f83ecb8296b440356c9d03a8e689f59cb2dee3ac6d50bd02c9f295a7cce6a1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebae00b16c5bfa17d28972ebf5ede3acb5a861c5978e86198b1996b73608f98c","downloaded_from":"2026-09-09T23:53:19.048Z","last_downloaded_at":"2026-09-09T23:53:19.048Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478147","source_sha256":"83f83ecb8296b440356c9d03a8e689f59cb2dee3ac6d50bd02c9f295a7cce6a1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8119dee9f77d3c62f365475a994719d92ffa4f3e6df20ebd6290d8de277ee90b","downloaded_from":"2026-09-09T23:53:19.048Z","last_downloaded_at":"2026-09-09T23:53:19.048Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478147","source_sha256":"83f83ecb8296b440356c9d03a8e689f59cb2dee3ac6d50bd02c9f295a7cce6a1"}}],"enrichment":{"summary":"This Subtopic governs inventory accounting for entities in the oil and gas (extractive activities) industry, borrowing the scope of ASC 932-10-15. Its core rules are prohibitions: energy trading contracts that are not derivatives under Topic 815 may not be subsequently measured at fair value through earnings, and physical inventories may not be measured at fair value unless another Topic permits it. Exchanges (buying and selling inventory with the same counterparty) are directed to ASC 845-10-15-5 through 15-9.","key_points":["The Subtopic addresses accounting for inventory in the oil and gas industry (330-932-05-1) and adopts the scope of Section 932-10-15 (330-932-15-1).","Energy trading contracts that do not qualify as derivatives under Topic 815 shall not be subsequently measured at fair value through earnings (330-932-35-1).","Entities shall not measure physical inventories at fair value except as provided by guidance in other Topics (330-932-35-1).","For inventory exchanges — buying and selling inventory with the same counterparty — apply paragraphs 845-10-15-5 through 15-9 (330-932-35-2)."],"categories":["Subsequent measurement","Industry-specific","Inventory and PP&E","Fair value"],"audience_level":"intermediate","student_note":"The takeaway is that oil and gas companies cannot mark physical inventories or non-derivative energy trading contracts to market through earnings — a rule that reversed earlier trading-book practice. Students often wrongly assume commodity inventories in energy are always fair-valued; fair value applies only where another Topic (e.g., 815 for true derivatives) allows it.","related_topics":["932-10","815","845-10","330-10","932-360"],"key_concepts":["energy trading contracts","physical inventory","fair value measurement prohibition","inventory exchanges with same counterparty","oil and gas extractive activities","nonmonetary transactions"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:17c6b06cf98212931a9a2df9a3d03a72d6f24ac36c1959ba14149da8b779f00e","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"350-932","title":"Extractive Activities—Oil and Gas","topic_title":"Intangibles—Goodwill and Other","score":0.7344,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3cbb560de99d7cbd782ec693c5e88e1d96bc1813fa9b949e8cc35bf9384bd04","downloaded_from":"2026-09-10T00:04:39.480Z","last_downloaded_at":"2026-09-10T00:04:44.333Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"835-932","title":"Extractive Activities—Oil and Gas","topic_title":"Interest","score":0.719,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a272aecebffc6550e2734aca8147e2c72b0316168cc7becb7311ec3eac66f00c","downloaded_from":"2026-09-10T01:50:54.044Z","last_downloaded_at":"2026-09-10T01:51:06.744Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-932","title":"Extractive Activities—Oil and Gas","topic_title":"Other Expenses","score":0.7173,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:70939029b698b900d8752a9169cd0326567cad5859d8066e0b236bdeec0c8c27","downloaded_from":"2026-09-10T01:10:32.559Z","last_downloaded_at":"2026-09-10T01:10:47.285Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-930","title":"Extractive Activities—Mining","topic_title":"Inventory","score":0.7067,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:31ff1fd611d8bab3e7d27bb53c5f957c3881c7fa1daf48adf92ead3fab25a6c8","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"470-932","title":"Extractive Activities—Oil and Gas","topic_title":"Debt","score":0.7045,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:691f716cca0164bd1c1d66b2b27ba873703bb3578bc669e2ff71e2211f274779","downloaded_from":"2026-09-10T00:33:36.319Z","last_downloaded_at":"2026-09-10T00:33:48.351Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"810-932","title":"Extractive Activities—Oil and Gas","topic_title":"Consolidation","score":0.7038,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a3552d76fe112952bf93c090267f45a566934c91c4122342acfbc820648cd3d5","downloaded_from":"2026-09-10T01:31:06.373Z","last_downloaded_at":"2026-09-10T01:31:16.096Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-930","title":"Extractive Activities—Mining","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b1d063db4b65be56bb9344902e258856284c4b88c950b2c6941b712219ea799","downloaded_from":"2026-09-09T23:52:57.013Z","last_downloaded_at":"2026-09-09T23:53:06.919Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-976","title":"Real Estate—Retail Land","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c982bb42e20cd42521a8205ce360d97f3bc064b7863871b046037184cf5ed230","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:89d4a9bc4287327809b47666c8a2715632b79cbf1cfc5ceb028f40cb0284463e","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-976","topic":"330","title":"Real Estate—Retail Land","area":"Assets","paragraphs":3,"summary":"This Subtopic sets the inventory-related disclosure requirements for entities engaged in retail land sales operations, focusing on future expenditures for land improvements. Entities must disclose the estimated total costs and timing of improvement expenditures for major selling areas for each of the five years after the balance sheet date, plus any recorded obligations for improvements (330-976-50-1).","concepts":["retail land sales","improvement expenditures","estimated total costs","recorded obligations","real estate inventory","five-year disclosure schedule"],"categories":["Disclosure","Inventory and PP&E","Industry-specific"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-976-05-1","para":"05-1","html":"
This Subtopic provides disclosure guidance concerning expenditures for improvements of entities with retail land sales operations.
","snippet":"This Subtopic provides disclosure guidance concerning expenditures for improvements of entities with retail land sales operations.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eef900a43a59f8facf8f8ae58337dc50077fc86b7f35d815efe6a7df42480b75","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae343f1c91c60167c1c07ee9f3ac9dc002fd8ac30bc56eee4bef0c1a47d0e0ec","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3edc653191e57daa2f616e2f23f929782f8d3b6ba471c9c741e5115630c93137","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:24.824Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478011","source_sha256":"082d02e3b0f3f96cc7b6620cd7a2b11f12dd96aa563192a46616214dc3a50af0"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-976-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 976-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 976-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4907c617bbbfb85d0ebb00e60e8ddca82822afd0dd8ca6c8c62edcf1d43d003a","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e279b5603d650e6c275d89d58e1b4472fbd64d783846789d3fde4a29e41de851","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04833fec9a71f49f53ac697d3f878de0826c3e73be6e091b57da644be07fcff5","downloaded_from":"2026-09-09T23:53:26.451Z","last_downloaded_at":"2026-09-09T23:53:26.451Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477735","source_sha256":"54b6046db707237b963230a028cd03a87bb09bbf59e409e12e4e40e3b3d405ca"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-976-50-1","para":"50-1","html":"
Disclosures by entities with retail land sales operations shall include both of the following:
  1. a
    Estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being made over each of the five years following the date of the financial statements
  2. b
    Recorded obligations for improvements.
","snippet":"Disclosures by entities with retail land sales operations shall include both of the following:\n(a) Estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being mad…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9942bebf4570df633f9b66d6d3d9f2c26b3c9876a5dacfaca13c70a21baf08b4","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:473b8755160a364884b9c82b044b367b29390ffbc5f447f1a28a992ff3643216","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ac2c8d6c9cb07b95c4ac892ead02eb721b75f73bb74bc399ad81245851983179","downloaded_from":"2026-09-09T23:53:30.083Z","last_downloaded_at":"2026-09-09T23:53:30.083Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478253","source_sha256":"d4ceee207cc94439aef011b680653ccb863bdccd994392214c1b8e021761b3da"}}],"enrichment":{"summary":"This Subtopic sets the inventory-related disclosure requirements for entities engaged in retail land sales operations, focusing on future expenditures for land improvements. Entities must disclose the estimated total costs and timing of improvement expenditures for major selling areas for each of the five years after the balance sheet date, plus any recorded obligations for improvements (330-976-50-1).","key_points":["The Subtopic provides only disclosure guidance concerning expenditures for improvements by entities with retail land sales operations (330-976-05-1).","Its scope is the same as the Overall Real Estate—Retail Land Subtopic, Section 976-10-15 (330-976-15-1).","Entities must disclose estimated total costs and estimated dates of expenditures for improvements for major areas from which sales are being made, for each of the five years following the financial statement date (330-976-50-1(a)).","Entities must also disclose recorded obligations for improvements (330-976-50-1(b))."],"categories":["Disclosure","Inventory and PP&E","Industry-specific"],"audience_level":"intermediate","student_note":"Remember this is a pure disclosure Subtopic\\u2014it does not tell you how to measure or capitalize improvement costs (that comes from ASC 976-360 and ASC 970); students often mistake the five-year schedule for a recognition rule when it is only a forward-looking cost-and-timing disclosure.","related_topics":["976-10","976-360","976-605","970","330-10"],"key_concepts":["retail land sales","improvement expenditures","estimated total costs","recorded obligations","real estate inventory","five-year disclosure schedule"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fae3d4f9ac76d4c50ba43b2f2c798cc1b3cc85b9151ce9dc758c8e50f6fb3bf7","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"705-976","title":"Real Estate—Retail Land","topic_title":"Cost of Sales and Services","score":0.7991,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:761a55a91495cc9ea64c082baaa8c44ee8865efc18754315a936eaf947405004","downloaded_from":"2026-09-10T00:56:41.306Z","last_downloaded_at":"2026-09-10T00:56:51.715Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"976-10","title":"Overall","topic_title":"Real Estate—Retail Land","score":0.7553,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:88c0871e71443721785dac934b2b635a6969a85f7fe2fedcb7d0a564016bfc41","downloaded_from":"2026-09-10T02:26:50.000Z","last_downloaded_at":"2026-09-10T02:26:59.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-976","title":"Real Estate—Retail Land","topic_title":"Receivables","score":0.743,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:953512a20087f784ff8817c67ad602529cb8c7a4413a246bc2ead8f5e0a63980","downloaded_from":"2026-09-09T23:33:45.972Z","last_downloaded_at":"2026-09-09T23:34:07.123Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"970-10","title":"Overall","topic_title":"Real Estate—General","score":0.7146,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d2175442f10f989ab9d1ee85314302e457c771642ba5b5e596cae661f9baefd","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-970","title":"Real Estate—General","topic_title":"Other Expenses","score":0.7003,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a8ff9f17748caf4624067c34731b7d4b9c832bdc52f8277661e3fa415c634359","downloaded_from":"2026-09-10T01:13:30.229Z","last_downloaded_at":"2026-09-10T01:13:42.190Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"230-970","title":"Real Estate—General","topic_title":"Statement of Cash Flows","score":0.6888,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9cdcae2ff1e86d3953a56306a448211c62bf8f1bdb6aa4a4ca9b3bae055ce45c","downloaded_from":"2026-09-09T23:13:47.405Z","last_downloaded_at":"2026-09-09T23:13:52.062Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-932","title":"Extractive Activities—Oil and Gas","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c553a5911f1d457d49a1aea9a50b0b92553e2999c8ea291aad0f554142805c2a","downloaded_from":"2026-09-09T23:53:09.584Z","last_downloaded_at":"2026-09-09T23:53:22.955Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f1e16faadd2262c053640e7ece7a3845f200e82d3d9bbf60b8fd2b0df07c3bd","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:56.981Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34ef1caf7437bd16a1da2005f3eaff9bb82a867f141c8adb9d6b47b440a40f56","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-978","topic":"330","title":"Real Estate—Time-Sharing Activities","area":"Assets","paragraphs":16,"summary":"ASC 330-978 governs how time-share sellers measure time-sharing inventory (intervals) and cost of sales. Sellers must use the relative sales value method, applied phase by phase, with common costs (including amenities) allocated among benefited phases, and must recalculate total estimated time-sharing revenue and total costs at least quarterly. Changes in estimate are recorded as current-period adjustments, and rental/other activity during the holding period is treated as incidental operations that reduce the pool of inventory costs.","concepts":["relative sales value method","time-sharing interval","cost-of-sales percentage","incidental operations","holding period","change in estimate","expected uncollectibles","inventory impairment"],"categories":["Subsequent measurement","Inventory and PP&E","Industry-specific","Impairment"],"level":"advanced","topic_title":"Inventory","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-978-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Contract Added Accounting Standards Update No. 2014-09 05/28/2014
Customer Added Accounting Standards Update No. 2014-09 05/28/2014
Deposit Method Superseded Accounting Standards Update No. 2014-09 05/28/2014
Incremental Costs from Incidental Operations Added Accounting Standards Update No. 2014-09 05/28/2014
Incremental Revenue from Incidental Operations Added Accounting Standards Update No. 2014-09 05/28/2014
Mini-Vacation Added Accounting Standards Update No. 2014-09 05/28/2014
Phase (2nd def.) Amended Accounting Standards Update No. 2014-06 03/14/2014
Revenue Added Accounting Standards Update No. 2014-09 05/28/2014
Time-Sharing Amended Accounting Standards Update No. 2014-06 03/14/2014
Sampler Program Added Accounting Standards Update No. 2014-09 05/28/2014
Undivided Interest (2nd def.) Superseded Accounting Standards Update No. 2014-06 03/14/2014
978-330-15-3 Amended Accounting Standards Update No. 2014-09 05/28/2014
978-330-15-4 Amended Accounting Standards Update No. 2014-09 05/28/2014
978-330-30-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
978-330-30-2 Superseded Accounting Standards Update No. 2014-09 05/28/2014
978-330-30-3 Amended Accounting Standards Update No. 2014-09 05/28/2014
978-330-35-1 through 35-4
 Amended Accounting Standards Update No. 2014-09 05/28/2014
978-330-35-6 Amended Accounting Standards Update No. 2016-02 02/25/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nContract | Added | Accounting Standards Update No. 2014-09 | 05/28/2014 |\nCustomer | Add…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f28356cc790deb938b7dafedc6903398a1481e07758e878ff31a6b3259ff3ff","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:35.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478388","source_sha256":"4e58ad1909b89694ec821d81fdc42e701f7d58c2b2637e8bf670546a2dc0eac8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:988b0b68127b0c13adbcf3944020ad8a8f782ba1adcbd7cf7484d6710d9fb00b","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:35.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478388","source_sha256":"4e58ad1909b89694ec821d81fdc42e701f7d58c2b2637e8bf670546a2dc0eac8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e76ae7891bb86ffcaef83599a3c6d1dee932ba3f28b58bd753035ce38d3ab58f","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:35.942Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478388","source_sha256":"4e58ad1909b89694ec821d81fdc42e701f7d58c2b2637e8bf670546a2dc0eac8"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-978-05-1","para":"05-1","html":"
This Subtopic addresses real estate time-sharing inventory measurement issues. Time-sharing inventory consists of time-sharing interests or intervals.
","snippet":"This Subtopic addresses real estate time-sharing inventory measurement issues. Time-sharing inventory consists of time-sharing interests or intervals.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64334e2a978488e66cf7f5b4f374880d1901efd2c3737c9b7cb39b3df429f0d0","downloaded_from":"2026-09-09T23:53:39.402Z","last_downloaded_at":"2026-09-09T23:53:39.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478281","source_sha256":"1c8c62c7a75bbb19debdcc6f1d81fba8ed520594222aa461c4ddee7b880394e4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f5b1ef4fbacae5a1f9f294225042f0691b85f30c2e350ab63cceeabb6a0ab637","downloaded_from":"2026-09-09T23:53:39.402Z","last_downloaded_at":"2026-09-09T23:53:39.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478281","source_sha256":"1c8c62c7a75bbb19debdcc6f1d81fba8ed520594222aa461c4ddee7b880394e4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:425ef4ddeed47bbd416154a493e396b8637ae8c0293357a3550c65e07a246bb5","downloaded_from":"2026-09-09T23:53:39.402Z","last_downloaded_at":"2026-09-09T23:53:39.402Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478281","source_sha256":"1c8c62c7a75bbb19debdcc6f1d81fba8ed520594222aa461c4ddee7b880394e4"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-978-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 978-10-15, with specific transaction exceptions noted below.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 978-10-15, with specific transaction exceptions noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:28f8b6f918de02fc224394ca2eb43e1490844268012e94462717e5a35f70e08d","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"citation":"330-978-15-2","para":"15-2","html":"
See paragraph 978-810-25-3 for guidance concerning when an entity shall recognize its interests in a special-purpose entity as inventory.
","snippet":"See paragraph 978-810-25-3 for guidance concerning when an entity shall recognize its interests in a special-purpose entity as inventory.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e42eaf65d157ea097ed20b5862d3bcdd7c4072b6a67375cdc4c8e11769afc53","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26e43ded10ba310ffed6f95e1f4b294b494214e0d2329af314ffa69146b7ac8c","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"block":null,"heading":"Transactions","paragraphs":[{"citation":"330-978-15-3","para":"15-3","html":"
The guidance in this Subtopic applies to the following transactions and activities:
  1. a
    All time-sharing sale transactions that are within the scope of Topic 606 on revenue from contracts with customers.
","snippet":"The guidance in this Subtopic applies to the following transactions and activities:\n(a) All time-sharing sale transactions that are within the scope of Topic 606 on revenue from contracts with customers.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50c4e5ff439e5e1ed166316db592a2f09d7749c1a8fc95780df4442ffee296a3","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"citation":"330-978-15-4","para":"15-4","html":"
The guidance in this Subtopic does not apply to the following transactions and activities:
  1. a
    Time-sharing transactions transactions that fail to meet all of the criteria in paragraph 606-10-25-1 and, therefore, are accounted for in accordance with paragraphs
    606-10-25-6 through 25-8
    .
","snippet":"The guidance in this Subtopic does not apply to the following transactions and activities:\n(a) Time-sharing transactions transactions that fail to meet all of the criteria in paragraph 606-10-25-1 and, therefore, are acc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:212a59dd1b0fb498e6a712f6c94e985465b15153ffd0401c8ce67c85c5dd9e4e","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcd9bde8cae010004353ab61929d2cff38c252e3f33885f0e53bb70f69dcf0b1","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c7d2086c12ee7dae11de7a72f331991e0bd4c2486c55e1748c169fc165700663","downloaded_from":"2026-09-09T23:53:41.579Z","last_downloaded_at":"2026-09-09T23:53:41.579Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477404","source_sha256":"3f566a58486c334bcbb0902206d4db94442a8796c5c86cc38a563ed804066c5e"}},{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":"Accounting for Cost of Sales and Time-Sharing Inventory","paragraphs":[{"citation":"330-978-30-1","para":"30-1","html":"
Sellers of time-sharing intervals shall account for cost of sales and time-sharing inventory using the relative sales value method. The relative sales value method shall be applied to each phase separately. Common costs, including amenities, shall be allocated to inventory among the phases that those costs will benefit.
","snippet":"Sellers of time-sharing intervals shall account for cost of sales and time-sharing inventory using the relative sales value method. The relative sales value method shall be applied to each phase separately. Common costs,…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2ffa67a7d3c4df84713266d4be5c80b18c48b07d5783b56e2754eb516656605d","downloaded_from":"2026-09-09T23:53:47.501Z","last_downloaded_at":"2026-09-09T23:53:47.501Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479096","source_sha256":"6d6598411670e839f5a77330d152b74c3a4ed1fb616fce5c48b4d4c6aebddabe"}},{"citation":"330-978-30-2","para":"30-2","html":"
Paragraph superseded by Accounting Standards Update No. 2014-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d1883a9a7c87420e4721eab2d97960e35be628ab470bc464fabd00aac5234837","downloaded_from":"2026-09-09T23:53:47.501Z","last_downloaded_at":"2026-09-09T23:53:47.501Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479096","source_sha256":"6d6598411670e839f5a77330d152b74c3a4ed1fb616fce5c48b4d4c6aebddabe"}},{"citation":"330-978-30-3","para":"30-3","html":"
See paragraph 978-330-35-1 for additional guidance related to the determination of total time-sharing revenue and total cost estimates.
","snippet":"See paragraph 978-330-35-1 for additional guidance related to the determination of total time-sharing revenue and total cost estimates.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb3bfc4fac30fe02867a3a7fff83b2a87e0eca5c1327bafc978bb28460d5dcec","downloaded_from":"2026-09-09T23:53:47.501Z","last_downloaded_at":"2026-09-09T23:53:47.501Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479096","source_sha256":"6d6598411670e839f5a77330d152b74c3a4ed1fb616fce5c48b4d4c6aebddabe"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3524df067ba0f2315e5c216f47292b73984e91b14cedfc445625fd7afad2e275","downloaded_from":"2026-09-09T23:53:47.501Z","last_downloaded_at":"2026-09-09T23:53:47.501Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479096","source_sha256":"6d6598411670e839f5a77330d152b74c3a4ed1fb616fce5c48b4d4c6aebddabe"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f6aa8bdcb470fafcd43fef5deb278fedbc7c189ae05d184df502103ff27549c6","downloaded_from":"2026-09-09T23:53:47.501Z","last_downloaded_at":"2026-09-09T23:53:47.501Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479096","source_sha256":"6d6598411670e839f5a77330d152b74c3a4ed1fb616fce5c48b4d4c6aebddabe"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Accounting for Cost of Sales and Time-Sharing Inventory","paragraphs":[{"citation":"330-978-35-1","para":"35-1","html":"
At least quarterly, both total time-sharing revenue (actual to-date plus expected future revenue) and total cost estimates shall be recalculated. A time-sharing entity shall adjust at least quarterly even if it does not issue quarterly financial reports under Securities and Exchange Commission (SEC) reporting requirements. The estimate of total time-sharing revenue (actual to-date plus expected future revenue) for use in the relative sales value method shall incorporate factors such as incurred or estimated uncollectibles, changes in sales prices or sales mix, repossession of intervals that the seller may or may not be able to resell, effects of upgrade programs, and past or expected sales incentives to sell slow-moving inventory units. Such amounts should be included in the estimate of total time-sharing revenue for use in the relative sales value method even when those amounts are recognized as bad-debt expense within the statement of comprehensive income rather than included within the revenue recognized. The cost-of-sales percentage shall be similarly recalculated each time estimated revenue (including amounts reported or expected to be reported as revenue or as bad-debt expense) or cost is adjusted, using the new estimate of total time-sharing revenue and total cost (including costs to complete, if any). The effects of changes in estimate for cost shall be accounted for in each period using a current-period adjustment, that is, the time-share seller shall account for a change in estimate in the period of change so that the balance sheet at the end of the period of change and the accounting in subsequent periods are as they would have been if the revised estimates had been the original estimates. The effects of changes in estimate shall be disclosed in accordance with paragraph 250-10-50-4. The inventory balance reported in the balance sheet, plus estimated costs to complete that inventory, if any, represents a pool of costs that will be charged against future revenue.
","snippet":"At least quarterly, both total time-sharing revenue (actual to-date plus expected future revenue) and total cost estimates shall be recalculated. A time-sharing entity shall adjust at least quarterly even if it does not …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93c00dd3a546348564b2b0155c0fbaac8f5401e3a7a913351354f568aac3e1e6","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"citation":"330-978-35-2","para":"35-2","html":"
The recording of an adjustment for expected uncollectibles is accompanied by a corresponding adjustment to cost of sales and inventory that is effected through the application of the cost-of-sales percentage. However, under the relative sales value method, there is no accounting effect on inventory if a time-sharing interval is repossessed or otherwise reacquired unless the repossession causes a change in expected uncollectibles. The seller shall, however, perform impairment testing on its inventory in accordance with paragraphs
360-10-35-38 through 35-40
, 360-10-35-43, and 360-10-40-5.
","snippet":"The recording of an adjustment for expected uncollectibles is accompanied by a corresponding adjustment to cost of sales and inventory that is effected through the application of the cost-of-sales percentage. However, un…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5e72b0a175b95992a3c7a41b5b09f509ec6d53b98ef6200e6ce44b92aad28bbe","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"citation":"330-978-35-3","para":"35-3","html":"
Revenue from and costs of rental and other operations during holding periods shall be accounted for as incidental operations. Incremental revenue from incidental operations in excess of incremental costs from incidental operations shall be accounted for as a reduction of inventory costs—that is, the pool of inventory costs under the relative sales value method as described in paragraph 978-330-35-1. Estimates of future amounts of such excess should not be factored into the calculations of the relative sales value method. Incremental costs in excess of incremental revenue should be charged to expense as incurred.
","snippet":"Revenue from and costs of rental and other operations during holding periods shall be accounted for as incidental operations. Incremental revenue from incidental operations in excess of incremental costs from incidental …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46b67542b04959f09fce6a1c21f57631830d0c958688fbdf2a93fd79fd9f2941","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c513166dc31f40bb0b77ce84848d2e4e570bf0949821ddfdd55d052eb2f45a13","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"block":null,"heading":"Operations during Holding Periods","paragraphs":[{"citation":"330-978-35-4","para":"35-4","html":"
Holding period operations include sampler programs and mini-vacations. During holding periods, time-sharing intervals shall be accounted for as inventory and shall not be depreciated. Costs of operations during holding periods include seller subsidies and maintenance and related costs on time-sharing intervals held for sale.
","snippet":"Holding period operations include sampler programs and mini-vacations. During holding periods, time-sharing intervals shall be accounted for as inventory and shall not be depreciated. Costs of operations during holding p…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:70d2ae59762715d784f5916b92a9fed1ea9826a5b90890a89c9a49f60ee6e756","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"citation":"330-978-35-5","para":"35-5","html":"
For time-sharing operations, the holding period (as that term is used in the definition of incidental operations) begins at the time that intervals are held for and are available for sale—for example, when units in domestic locations are legally registered for sale as time-shares. A seller shall evaluate each period as to whether units previously considered held for and available for sale shall continue to be characterized as such.
","snippet":"For time-sharing operations, the holding period (as that term is used in the definition of incidental operations) begins at the time that intervals are held for and are available for sale—for example, when units in domes…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0ae0826a861ca4d89fce19b7075c42da56a0f1eb9e8894eb3dec0a4de528fab8","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"citation":"330-978-35-6","para":"35-6","html":"
If rental activities occur other than during the holding period, the corresponding units shall be depreciated and those activities shall be accounted for as rental operations in accordance with Subtopic 842-30 on leases—lessors.
","snippet":"If rental activities occur other than during the holding period, the corresponding units shall be depreciated and those activities shall be accounted for as rental operations in accordance with Subtopic 842-30 on leases—…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:15d29a8dff1e3b6ca4314c8d48e7dd47eb26e1f08de1c27765c44bee48277fe5","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:33df91ac299199c85d2b81a644424f05104053850ee1e1629ab330935a2e51ce","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e999298da762f0115e529ec461e6c30f4bea00d7813302f505a505959656dac5","downloaded_from":"2026-09-09T23:53:49.878Z","last_downloaded_at":"2026-09-09T23:53:49.878Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478792","source_sha256":"28b6832e1927b0c20c8b8d636f3956de9dac7507b396410a5a04f61b8a21c05e"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-978-50-1","para":"50-1","html":"
See paragraph 978-330-35-1 for disclosure requirements for changes in estimates used to perform the relative sales value method.
","snippet":"See paragraph 978-330-35-1 for disclosure requirements for changes in estimates used to perform the relative sales value method.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be6b9f4a08043b89350e26f0732d1e576354acfebd7063faaffd34d5c23f8e89","downloaded_from":"2026-09-09T23:53:53.503Z","last_downloaded_at":"2026-09-09T23:53:53.503Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478260","source_sha256":"96a675f9640ee76cbe59043a2cd73ee08adc5db805c998e3046332df5f810545"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98e70f7992aea9ecf742ad70a4d371be235d0d18ea44d35fb912ce33b9850716","downloaded_from":"2026-09-09T23:53:53.503Z","last_downloaded_at":"2026-09-09T23:53:53.503Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478260","source_sha256":"96a675f9640ee76cbe59043a2cd73ee08adc5db805c998e3046332df5f810545"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a98747a13fc2947f8564a3b57793183bc40ae782615c9b8fa4b886b9278e4a6f","downloaded_from":"2026-09-09T23:53:53.503Z","last_downloaded_at":"2026-09-09T23:53:53.503Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478260","source_sha256":"96a675f9640ee76cbe59043a2cd73ee08adc5db805c998e3046332df5f810545"}}],"enrichment":{"summary":"ASC 330-978 governs how time-share sellers measure time-sharing inventory (intervals) and cost of sales. Sellers must use the relative sales value method, applied phase by phase, with common costs (including amenities) allocated among benefited phases, and must recalculate total estimated time-sharing revenue and total costs at least quarterly. Changes in estimate are recorded as current-period adjustments, and rental/other activity during the holding period is treated as incidental operations that reduce the pool of inventory costs.","key_points":["Sellers of time-sharing intervals account for cost of sales and inventory using the relative sales value method, applied separately to each phase, with common costs such as amenities allocated among the phases they benefit (330-978-30-1).","At least quarterly—even if no quarterly SEC reports are filed—total time-sharing revenue (actual to-date plus expected future) and total cost estimates must be recalculated, incorporating uncollectibles, price/mix changes, repossessions, upgrade programs, and sales incentives; the cost-of-sales percentage is recomputed each time (330-978-35-1).","Effects of changes in estimate are accounted for as a current-period adjustment so that the ending balance sheet and subsequent accounting are as if the revised estimates had been the original ones, with disclosure under 250-10-50-4 (330-978-35-1).","An adjustment for expected uncollectibles carries a corresponding adjustment to cost of sales and inventory via the cost-of-sales percentage; repossession or reacquisition of an interval has no inventory effect unless it changes expected uncollectibles (330-978-35-2).","Inventory must still be tested for impairment under 360-10-35-38 through 35-40, 360-10-35-43, and 360-10-40-5 (330-978-35-2).","Rental and other operations during holding periods are incidental operations: incremental revenue exceeding incremental cost reduces the pool of inventory costs (and is not projected into the relative sales value calculation), while incremental cost exceeding revenue is expensed as incurred (330-978-35-3).","During holding periods—beginning when intervals are held for and available for sale (e.g., legally registered as time-shares)—intervals are inventory and are not depreciated; rental activity outside the holding period requires depreciation and lessor accounting under Subtopic 842-30 (330-978-35-4 through 35-6)."],"categories":["Subsequent measurement","Inventory and PP&E","Industry-specific","Impairment"],"audience_level":"advanced","student_note":"This is a niche, industry-specific measurement model: the relative sales value method links inventory relief directly to revenue estimates, so a change in expected uncollectibles automatically changes cost of sales and inventory. A common misunderstanding is thinking a repossessed interval goes back into inventory—it does not, unless the repossession changes the estimate of uncollectibles.","related_topics":["978-330","978-810","606-10","360-10","250-10","842-30"],"key_concepts":["relative sales value method","time-sharing interval","cost-of-sales percentage","incidental operations","holding period","change in estimate","expected uncollectibles","inventory impairment"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6ab930292b765474d270379b72725e22aff7757b2297e38a54baccfb730c3351","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:56.981Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"340-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Other Assets and Deferred Costs","score":0.8322,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09b444d9dd42a64e45a4fc4e74679640b48584578795aab81519f4e9d26cbec5","downloaded_from":"2026-09-09T23:59:19.735Z","last_downloaded_at":"2026-09-09T23:59:36.956Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"978-10","title":"Overall","topic_title":"Real Estate—Time-Sharing Activities","score":0.8115,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6229005058a5ba5a4671530ecf3174ec1180e244705f64108337376c50f7143b","downloaded_from":"2026-09-10T02:27:02.409Z","last_downloaded_at":"2026-09-10T02:27:14.744Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"310-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Receivables","score":0.8042,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcfa573fce4c3194e140e4bca23e3f35ba4cfcc53d73665deeff7604c646e1cc","downloaded_from":"2026-09-09T23:34:09.771Z","last_downloaded_at":"2026-09-09T23:34:36.034Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Other Expenses","score":0.8019,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0645418aa61b2e4a52161b64dcea348d1cb21b429d68630a2fbd4d607b157eb","downloaded_from":"2026-09-10T01:14:14.996Z","last_downloaded_at":"2026-09-10T01:14:26.123Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"810-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Consolidation","score":0.7514,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:af4166daff57e49a4493e6f4326fb690d9bc5fcbd895626d2383200d94e76c38","downloaded_from":"2026-09-10T01:34:10.635Z","last_downloaded_at":"2026-09-10T01:34:24.202Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"840-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Leases","score":0.7087,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8189890145bd83858dc4a9fc8eaa11eb688a95bd35d7614f6208c52b0520ffe6","downloaded_from":"2026-09-10T01:55:04.614Z","last_downloaded_at":"2026-09-10T01:55:15.312Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-976","title":"Real Estate—Retail Land","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c982bb42e20cd42521a8205ce360d97f3bc064b7863871b046037184cf5ed230","downloaded_from":"2026-09-09T23:53:24.824Z","last_downloaded_at":"2026-09-09T23:53:33.731Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"330-985","title":"Software","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c3618a1ec6ea63aa7238c101e7d3771e5cb10ac1bea0c006911c38b1e1940935","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:079b1a54bdb9c9efc46e9b9839886b42f720908a27ad6fdf9cfaa1f33994f318","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:56.981Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"330-985","topic":"330","title":"Software","area":"Assets","paragraphs":4,"summary":"This subtopic governs how a software vendor accounts for the costs of producing physical copies of software to be sold, leased, or otherwise marketed. Costs of duplicating the software, documentation, and training materials from the product masters and of physically packaging the product for distribution are capitalized as inventory on a unit-specific basis (330-985-25-1). Those capitalized costs are charged to cost of sales when revenue from the sale of the related units is recognized (330-985-40-1).","concepts":["product masters","duplication costs","packaging costs","unit-specific capitalization","software inventory","cost of sales","software to be sold, leased, or marketed"],"categories":["Inventory and PP&E","Recognition","Derecognition","Industry-specific"],"level":"intermediate","topic_title":"Inventory","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-985-05-1","para":"05-1","html":"
This Subtopic provides guidance on inventory costs of computer software.
","snippet":"This Subtopic provides guidance on inventory costs of computer software.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6d5dee2f04171cc1821fa71b1a7cba7f5de06606528516aabb667f08940e50e8","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:53:59.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477710","source_sha256":"a525eb91bc17eb43c09ea5f95d58ceb0ac7ca59a1927030d5f3b8a3d142cfdb5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b82ae0946a5b80fe4b6242882cec8169e45776491bf4e5d65937215e00213c6","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:53:59.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477710","source_sha256":"a525eb91bc17eb43c09ea5f95d58ceb0ac7ca59a1927030d5f3b8a3d142cfdb5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eb1dc616c7071b66e7501e82eba65add7007deeb1f71e94d3b79a06eb1226c13","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:53:59.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477710","source_sha256":"a525eb91bc17eb43c09ea5f95d58ceb0ac7ca59a1927030d5f3b8a3d142cfdb5"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"330-985-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 985-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 985-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf22ec9f1e4d6602c21a9f59de270d4ad83f3f3dc424997e91e39834bc5bba7f","downloaded_from":"2026-09-09T23:54:02.015Z","last_downloaded_at":"2026-09-09T23:54:02.015Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478917","source_sha256":"16e318ef5a653064223d94d65db30cd317c8e8bc2654857b4eac54bf14722a47"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1d525e65481857be03ac492faa88440a248565eeb6db11f275bd2e9d41f0b494","downloaded_from":"2026-09-09T23:54:02.015Z","last_downloaded_at":"2026-09-09T23:54:02.015Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478917","source_sha256":"16e318ef5a653064223d94d65db30cd317c8e8bc2654857b4eac54bf14722a47"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:60b0ab29f22e3ec994e69681b442f2a429a720813a88b4fcc56be320decc499e","downloaded_from":"2026-09-09T23:54:02.015Z","last_downloaded_at":"2026-09-09T23:54:02.015Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478917","source_sha256":"16e318ef5a653064223d94d65db30cd317c8e8bc2654857b4eac54bf14722a47"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-985-25-1","para":"25-1","html":"
The costs incurred for duplicating the computer software, documentation, and training materials from the product masters and for physically packaging the product for distribution shall be capitalized as inventory on a unit-specific basis.
","snippet":"The costs incurred for duplicating the computer software, documentation, and training materials from the product masters and for physically packaging the product for distribution shall be capitalized as inventory on a un…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c8639d7bc9ee45d7ba3a1b46f6376b0840ff2d798b16999cc4ebaf1d80332d5a","downloaded_from":"2026-09-09T23:54:08.959Z","last_downloaded_at":"2026-09-09T23:54:08.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477739","source_sha256":"4c5f93bd9bd56e14a9bc93d24e45630a3bc16e1240cb602993a4610c6ca320d0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2fc3ee9fb6213167fcaa090881911799362e605630563708d2a0b38d05285cd1","downloaded_from":"2026-09-09T23:54:08.959Z","last_downloaded_at":"2026-09-09T23:54:08.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477739","source_sha256":"4c5f93bd9bd56e14a9bc93d24e45630a3bc16e1240cb602993a4610c6ca320d0"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1381f369bbe054a639aa4dcda369e99fd3f3f5c32e5f743c6714c4ca452be833","downloaded_from":"2026-09-09T23:54:08.959Z","last_downloaded_at":"2026-09-09T23:54:08.959Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477739","source_sha256":"4c5f93bd9bd56e14a9bc93d24e45630a3bc16e1240cb602993a4610c6ca320d0"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"330-985-40-1","para":"40-1","html":"
The costs incurred for duplicating the computer software, documentation, and training materials from the product masters and for physically packaging the product for distribution shall be charged to cost of sales when revenue from the sale of those units is recognized.
","snippet":"The costs incurred for duplicating the computer software, documentation, and training materials from the product masters and for physically packaging the product for distribution shall be charged to cost of sales when re…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:21b2ed7fcd6f45af62a84e29fd8505df1d0ccc8b9509c404010a42ab60c47e90","downloaded_from":"2026-09-09T23:54:12.400Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477789","source_sha256":"0dc7a3e471c56481f85b417c23def6479ec1baec2fbf1d03e39ceed31af390fc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b9f91eb177d8e232828c7f533423a761d28865d3e0e22bd1d110265e05d9cdee","downloaded_from":"2026-09-09T23:54:12.400Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477789","source_sha256":"0dc7a3e471c56481f85b417c23def6479ec1baec2fbf1d03e39ceed31af390fc"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f0ee26171efab9e80a5d369d9720c65c488178f396cbcf83500c5101f5b7bfe","downloaded_from":"2026-09-09T23:54:12.400Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477789","source_sha256":"0dc7a3e471c56481f85b417c23def6479ec1baec2fbf1d03e39ceed31af390fc"}}],"enrichment":{"summary":"This subtopic governs how a software vendor accounts for the costs of producing physical copies of software to be sold, leased, or otherwise marketed. Costs of duplicating the software, documentation, and training materials from the product masters and of physically packaging the product for distribution are capitalized as inventory on a unit-specific basis (330-985-25-1). Those capitalized costs are charged to cost of sales when revenue from the sale of the related units is recognized (330-985-40-1).","key_points":["Scope follows the Software Overall Subtopic, Section 985-10-15 (330-985-15-1), i.e., software to be sold, leased, or otherwise marketed.","Duplication costs for the software, documentation, and training materials from product masters, plus physical packaging costs for distribution, are capitalized as inventory on a unit-specific basis (330-985-25-1).","Capitalized duplication and packaging costs are charged to cost of sales when revenue from the sale of those units is recognized (330-985-40-1), matching cost with revenue.","The guidance addresses only inventory costs of computer software (330-985-05-1); costs of developing the product masters themselves are addressed elsewhere in Topic 985."],"categories":["Inventory and PP&E","Recognition","Derecognition","Industry-specific"],"audience_level":"intermediate","student_note":"Exam trap: distinguish costs of creating the product master (software development costs under 985-20, amortized as an asset) from costs of duplicating and packaging copies (inventory here, expensed to cost of sales as units sell). Students often expense duplication costs as incurred instead of capitalizing them as inventory.","related_topics":["985-10","985-20","985-605","330-10","350-40"],"key_concepts":["product masters","duplication costs","packaging costs","unit-specific capitalization","software inventory","cost of sales","software to be sold, leased, or marketed"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5d25a72eed0f25ba71380d8d37ce971d52c2350f0d280ab1d5c5e1edacbb053e","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"350-985","title":"Software","topic_title":"Intangibles—Goodwill and Other","score":0.8016,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a073c86e23fb5a5df88a516c555bd135fef07923626293a0e8abb6ee720ad36d","downloaded_from":"2026-09-10T00:05:21.279Z","last_downloaded_at":"2026-09-10T00:05:31.733Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"705-985","title":"Software","topic_title":"Cost of Sales and Services","score":0.7424,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:235b72f0908706e297af9ff09e300ac306f303aba64b5480aae7b87be3bfa5f6","downloaded_from":"2026-09-10T00:56:55.035Z","last_downloaded_at":"2026-09-10T00:57:08.857Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"730-985","title":"Software","topic_title":"Research and Development","score":0.729,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98122683f260b3a2644961fadf176b41b3c59545af0149e79711778c157e9ec4","downloaded_from":"2026-09-10T01:16:06.499Z","last_downloaded_at":"2026-09-10T01:16:08.583Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"985-20","title":"Costs of Software to Be Sold, Leased, or Marketed","topic_title":"Software","score":0.7223,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:09b23d59a4a4e18f0e32adb3f8ee1414a176e5a77e2fc8cc588261a117be4cd7","downloaded_from":"2026-09-10T02:28:26.033Z","last_downloaded_at":"2026-09-10T02:28:54.478Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"985-10","title":"Overall","topic_title":"Software","score":0.6895,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4c222b064389913b4f6b4a943de480f8b5a5390ae2ce9af31c7865509aae2bf5","downloaded_from":"2026-09-10T02:28:16.187Z","last_downloaded_at":"2026-09-10T02:28:23.457Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"705-10","title":"Overall","topic_title":"Cost of Sales and Services","score":0.6611,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c7680bbe1f6aa5d32ea15f10f29f92f242c49d0f37d801961cb8c200046f46a","downloaded_from":"2026-09-10T00:55:38.735Z","last_downloaded_at":"2026-09-10T00:55:50.312Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"330-978","title":"Real Estate—Time-Sharing Activities","topic_title":"Inventory","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f1e16faadd2262c053640e7ece7a3845f200e82d3d9bbf60b8fd2b0df07c3bd","downloaded_from":"2026-09-09T23:53:35.942Z","last_downloaded_at":"2026-09-09T23:53:56.981Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"340-10","title":"Overall","topic_title":"Other Assets and Deferred Costs","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9fdb5c62edb35126692d0636d92d67b9997e3434a8c7db0f3b16025db1d01930","downloaded_from":"2026-09-09T23:54:15.524Z","last_downloaded_at":"2026-09-09T23:55:04.724Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9015556e7af97e46aaba92407753c4627622ebb8b787302a0cf80db55d609afe","downloaded_from":"2026-09-09T23:53:59.630Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":177,"summary":"ASC 330 establishes that inventory is initially measured at cost — all direct and indirect expenditures incurred to bring an article to its existing condition and location — with fixed overhead allocated on normal capacity and abnormal freight, handling, spoilage, and idle-capacity overhead expensed as period charges (330-10-30-1 through 30-8). Cost may be assigned using FIFO, average cost, LIFO, standard cost, or the retail inventory method, applied consistently to most clearly reflect periodic income; subsequent measurement is bifurcated, with LIFO and retail-method inventory subject to lower of cost or market (replacement cost capped at NRV and floored at NRV less normal profit) and all other inventory measured at lower of cost and net realizable value, a write-down creating a new cost basis that cannot be reversed (330-10-35-1B through 35-14). Industry subtopics tailor these rules: agriculture (330-905) accumulates growing-crop costs to harvest and permits NRV/market valuation for readily marketable products; mining (330-930) treats production-phase stripping costs as variable production costs of the ore extracted; airlines (330-908) carry expendable parts at cost with an obsolescence allowance; software (330-985), films (330-926), time-shares (330-978, relative sales value method), oil and gas (330-932), government contractors (330-912), and retail land (330-976) add narrow recognition, measurement, or disclosure rules, while construction contractor guidance (330-910) is fully superseded. The unifying idea is that inventory is carried at cost until cost exceeds the value recoverable through sale, at which point the loss is recognized immediately.","concepts":["cost basis of inventory","lower of cost and net realizable value","lower of cost or market (lifo and retail method)","cost flow assumptions (fifo, lifo, average, retail)","normal capacity overhead allocation","new cost basis after write-down","loss on firm purchase commitments","industry-specific inventory guidance"],"categories":["Inventory and PP&E","Subsequent measurement","Initial measurement","Industry-specific"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e92d9797660f12362cc07b73a1405b36484a12e967af893fa1bc663c71879efe","downloaded_from":"2026-09-09T23:50:30.404Z","last_downloaded_at":"2026-09-09T23:54:12.400Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}