JOHNSON CONTROLS INC | 2013 | FY | 3


INVENTORIES

Inventories consisted of the following (in millions):
 
September 30,
 
2013
 
2012
 
 
 
 
Raw materials and supplies
$
1,086

 
$
1,144

Work-in-process
459

 
397

Finished goods
780

 
802

Inventories
$
2,325

 
$
2,343



In the fourth quarter of fiscal 2013, the Company changed its method of inventory costing for certain inventory in its Power Solutions business to the first-in first-out (FIFO) method from the last-in first-out (LIFO) method. Refer to Note 1, “Summary of Significant Accounting Policies,” of the notes to consolidated financial statements for discussion of the Company’s change in accounting method.

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