INVENTORIES

9 Months Ended

Jul. 31, 2011

INVENTORIES

INVENTORIES

(12)Most inventories owned by Deere & Company and its U.S. equipment subsidiaries are valued at cost, on the “last-in, first-out” (LIFO) method.  If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows:

	July 31 2011		October 31 2010		July 31 2010
Raw materials and supplies	$	1,628	$	1,201	$	1,082
Work-in-process	567		483		454
Finished goods and parts	3,954		2,777		2,975
Total FIFO value	6,149		4,461		4,511
Less adjustment to LIFO basis	1,461		1,398		1,336
Inventories	$	4,688	$	3,063	$	3,175