
4.	INVENTORIES

Inventories consisted of the following (in millions):



	September 30, 2011		December 31, 2010
Refinery feedstocks	$	2,502	$	2,225
Refined products and blendstocks	2,217		2,233
Ethanol feedstocks and products	130		201
Convenience store merchandise	102		101
Materials and supplies	213		187
Inventories	$	5,164	$	4,947

As of September 30, 2011 and December 31, 2010, the replacement cost (market value) of LIFO inventories exceeded their LIFO carrying amounts by approximately $7.1 billion and $6.1 billion, respectively.