Inventories

9 Months Ended

Jun. 27, 2020

INVENTORIES

Processed products, livestock and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories. At June 27, 2020, the cost of inventories was determined by either the first-in, first-out ("FIFO") method or the weighted-average method, which is consistent with the methods used at September 28, 2019.

The following table reflects the major components of inventory (in millions):



	June 27, 2020		September 28, 2019
Processed products	$	2,069	$	2,362
Livestock	1,195		1,150
Supplies and other	651		596
Total inventory	$	3,915	$	4,108