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Inventories | 9 Months Ended
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Sep. 30, 2021
Inventory Disclosure [Abstract] |
Inventories | Inventories
($ in millions) | September 30, 2021 |  | December 31, 2020
Finished products | $1,241 |  |  | $1,021 |
Work in process | 254 |  |  | 187 |
Raw materials | 714 |  |  | 490 |
Supplies | 40 |  |  | 37 |
Total Inventories | $2,249 |  |  | $1,735 |
Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 28% and 33% of total inventories at September 30, 2021 and December 31, 2020, respectively. If the first-in, first-out method of inventory valuation had been used, inventories would have been $153 million and $110 million higher as of September 30, 2021 and December 31, 2020, respectively.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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