Qualcomm Incorporated is a leading developer and manufacturer of digital wireless telecommunications products and services. Qualcomm reported
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Qualcomm Incorporated is a leading developer and manufacturer of digital wireless telecommunications products and services. Qualcomm reported the following inventories on September 28, 2008, in the notes to its financial statements:
(In millions)
September 28, 2008
Raw materials……………… $ 27
Work in process…………… 199
Finished goods……………. 295
…………………………........…. $521
a. Why does Qualcomm report three different inventories?
b. What costs are included in each of the three classes of inventory?
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