INVENTORIES

6 Months Ended

Nov. 26, 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:

	November 26,		May 28,
(in millions)	2023		2023
Raw materials and packaging	$	337.2	$	145.7
Finished goods		732.0		708.3
Supplies and other		84.4		78.0
Inventories	$	1,153.6	$	932.0