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INVENTORIES | 12 Months Ended
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Dec. 31, 2017
INVENTORIES |
INVENTORIES |
NOTE 4 INVENTORIES
Net carrying values of inventories valued under the LIFO method were approximately $172 million and $192 million at December 31, 2017 and 2016, respectively. Finished goods primarily represents crude oil, caustic soda and chlorine. Inventories consisted of the following:
Balance at December 31, (in millions) |  | 2017 |  | 2016
Raw materials |  | $ | 66 |  | $ | 65
Materials and supplies |  | 447 |  | 446
Finished goods |  | 776 |  | 395
|  | 1,289 |  | 906
Revaluation to LIFO |  | (43) |  | (40)
Total |  | $ | 1,246 |  | $ | 866

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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