This paper contains computations of the Cuntz semigroup of separable C*-algebras of the form C0(X, A), where A is a unital, simple,
-stable ASH algebra. The computations describe the Cuntz semigroup in terms of Murray–von Neumann semigroups of C(K, A) for compact subsets K of X. In particular, the computation shows that the Elliott invariant is functorially equivalent to the invariant given by the Cuntz semigroup of C(𝕋, A). These results are a contribution towards the goal of using the Cuntz semigroup in the classification of well-behaved non-simple C*-algebras.