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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