Inventories

6 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories

NOTE F – INVENTORIES

Inventories are carried at the lower of cost or net realizable value. Inventories are stated at cost using the weighted-average cost method. This method values inventories using average costs for raw materials and most recent production costs for labor and overhead.

The following table summarizes Ashland’s inventories as of the reported Condensed Consolidated Balance Sheet dates.

	March 31		September 30
(In millions)	2023		2022
Finished products	$	472	$	391
Raw materials, supplies and work in process		258		238
	$	730	$	629