INVENTORIES



(In millions)	March 31, 2019		December 31, 2018
Finished products	$	4,390	$	4,204
Semi-finished products	1,338		1,769
Raw materials	523		481
Stores and supplies	385		441
Total	$	6,636	$	6,895
Adjustment of inventories to a last-in, first out ("LIFO") basis	511		512
Total inventories	$	7,147	$	7,407

As a result of the Merger, a fair value step-up of $3,840 million was recorded for inventories. Of this amount, $205 million and $641 million was recognized in cost of goods sold within income from continuing operations in the interim Consolidated Statements of Operations for the three months ended March 31, 2019 and 2018, respectively.