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INVENTORIES (Tables)

3 Months Ended

Mar. 29, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost or market. Inventories included the following: 

In millions						March 29, 2020						December 31, 2019
Finished products						$	2,223					$	2,214
Work-in-process and raw materials						1,488						1,395
Inventories at FIFO cost						3,711						3,609
Excess of FIFO over LIFO						(132)						(123)
Total inventories						$	3,579					$	3,486

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- References

No definition available.

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- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(c))
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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