INVENTORY

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORY

9. INVENTORY

The following table shows the composition of our inventory balances:

($ in millions)	At September 30, 2019		At December 31, 2018
Finished goods(1)	$	840	$	843
Work-in-progress	59		9
Real estate inventory	899		852
Other	11		11
	$	910	$	863

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⁽¹⁾  Represents completed inventory that is either registered for sale as vacation ownership interests, or unregistered and available for sale in its current form, as well as inventory expected to be acquired pursuant to estimated future foreclosures.

We value vacation ownership products at the lower of cost or fair market value less costs to sell, in accordance with applicable accounting guidance, and we record operating supplies at the lower of cost (using the first-in, first-out method) or net realizable value. Product cost true-up activity relating to vacation ownership products increased carrying values of inventory by $2 million during each of the first three quarters of 2019 and 2018.

In addition to the above, at September 30, 2019, we had $58 million of completed vacation ownership units which have been classified as a component of Property and equipment until the time at which they are legally registered for sale as vacation ownership products.