Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES (Tables)

v3.19.2
INVENTORIES (Tables)
6 Months Ended
Jun. 30, 2019
Schedule of inventory

Inventories are stated at the lower of cost or market, with cost determined using LIFO, first-in first-out, and average cost methods for different components of inventory. Inventories consisted of the following (dollars in millions):

June 30, 

December 31, 

    

2019

    

2018

Raw materials and supplies

$

222

$

215

Work in progress

55

51

Finished goods

868

927

Total

1,145

1,193

LIFO reserves

(51)

(59)

Net inventories

$

1,094

$

1,134