Koch Corporation is in the process of preparing its annual financial statements for the fiscal year ended April 30, 2015. The company manufactures plastic, glass, and paper containers for sale to food and drink manufacturers and distributors.

Koch Corporation maintains separate control accounts for its raw materials, work in process, and finished goods inventories for each of the three types of containers. The inventories are valued at the lowerof-

cost-or-net realizable value.

The company’s property, plant, and equipment are classified in the following major categories: land, office buildings, furniture and fixtures, manufacturing facilities, manufacturing equipment, and leasehold improvements. All fixed assets are carried at cost. The depreciation methods employed depend on the type of asset (its classification) and when it was acquired.

Koch Corporation plans to present the inventory and fixed asset amounts in its April 30, 2015, statement of financial position as shown below.

Instructions What information regarding inventories and property, plant, and equipment must be disclosed by Koch Corporation in the audited financial statements issued to shareholders, either in the body or the notes, for the 2014–2015 fiscal year?

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Inventories Property, plant, and equipment (net of depreciation) $4,814,200 6,310,000