Inventories



($ in millions)	June 30, 2016		December 31, 2015
Finished products	$	1,148	$	1,082
Work in process	179		160
Raw materials	430		413
Supplies	46		50
Total Inventories	$	1,803	$	1,705

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 38% and 39% of total inventories at June 30, 2016 and December 31, 2015, respectively. If the first-in, first-out method of inventory valuation had been used, inventories would have been $140 million and $163 million higher as of June 30, 2016 and December 31, 2015, respectively.