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INVENTORIES

3 Months Ended

Mar. 31, 2014

The following table provides a breakdown of inventories:



Inventories In millions	Mar 31, 2014		Dec 31, 2013
Finished goods	$	5,145	$	4,717
Work in process	2,280		1,948
Raw materials	780		760
Supplies	897		878
Total inventories	$	9,102	$	8,303

The reserves reducing inventories from the first-in, first-out (“FIFO”) basis to the last-in, first-out (“LIFO”) basis amounted to $887 million at March 31, 2014 and $854 million at December 31, 2013.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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