Inventories

Inventories include:



($ in millions)	June 30, 2015		December 31, 2014
Finished products	$	1,202	$	1,169
Work in process	160		157
Raw materials	445		439
Supplies	54		60
Total	$	1,861	$	1,825

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 39% and 40% of total inventories at June 30, 2015 and December 31, 2014, respectively. If the first-in, first-out method of inventory valuation had been used, inventories would have been $175 million and $182 million higher as of June 30, 2015 and December 31, 2014, respectively.