INVENTORIES

3 Months Ended

Aug. 27, 2023

INVENTORIES

INVENTORIES

4.    INVENTORIES

Inventories are valued at the lower of cost (determined using the first-in, first-out method) or net realizable value and include all costs directly associated with manufacturing products: materials, labor, and manufacturing overhead. The components of inventories were as follows:

	August 27,		May 28,
(in millions)	2023		2023
Raw materials and packaging	$	111.2	$	145.7
Finished goods		682.9		708.3
Supplies and other		78.8		78.0
Inventories	$	872.9	$	932.0