INVENTORIES

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6: INVENTORIES

Inventories include raw materials, work-in-process, finished goods as well as materials and supplies, as shown below:

DOLLAR AMOUNTS IN MILLIONS
	DECEMBER 31, 2019		DECEMBER 31, 2018
LIFO inventories:
Logs	$	19	$	11
Lumber, plywood, panels and fiberboard		82		75
Other products		10		10
FIFO or moving average cost inventories:
Logs		28		35
Lumber, plywood, panels, fiberboard and engineered wood products		84		86
Other products		98		83
Materials and supplies		95		89
Total	$	416	$	389

If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $76 million as of December 31, 2019, and $79 million as of December 31, 2018.

HOW WE ACCOUNT FOR OUR INVENTORIES

The Inventories section of Note 1: Summary of Significant Accounting Policies provides details about how we account for our inventories.