Ford Motor Company reported the following information in the notes of its 2002 annual report:

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A. Speculate on the types of raw materials Ford Motor Company reported in its annual report.
B. What is an example of work-in-process for Ford Motor Company? Have inventories increased or decreased during the reporting period? What might explain the increase or decrease?

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Inventories at December 31 were as follows (in millions): Raw materials, work-in-process and supplies Finished products Total inventories Less adjustment Total inventories 2002 $3,174 2001 $2,430 4,763 4,602 7,937 7,032 (957) (905) $6,980 $6,127