Inventories



($ in millions)	March 31, 2017		December 31, 2016
Finished products	$	1,103	$	969
Work in process	173		165
Raw materials	414		375
Supplies	37		37
Total Inventories	$	1,727	$	1,546

Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 35% and 37% of total inventories at March 31, 2017 and December 31, 2016, respectively. If the first-in, first-out method of inventory valuation had been used, inventories would have been $118 million and $120 million higher as of March 31, 2017 and December 31, 2016, respectively.