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Inventories

6 Months Ended

Mar. 31, 2013

6. INVENTORIES

The components of inventories are as follows:

	31 March		30 September
	2013		2012
Finished goods	$	548.7	$	617.9
Work in process		36.2		36.7
Raw materials, supplies and other		238.0		220.0
		822.9		874.6
Less: Excess of FIFO cost over LIFO cost		(94.8)		(88.0)
	$	728.1	$	786.6

FIFO cost approximates replacement cost. Our inventories have a high turnover, and as a result, there is little difference between the original cost of an item and its current replacement cost.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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