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Inventories
9 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Inventories

NOTE F – INVENTORIES

Inventories are carried at the lower of cost or net realizable value. Inventories are primarily stated at cost using the weighted-average cost method. In addition, certain inventories are valued at cost using the last-in, first-out (LIFO) method.

The following table summarizes Ashland’s inventories as of the reported Condensed Consolidated Balance Sheet dates.

 

(In millions)

 

June 30, 2020

 

 

September 30, 2019

 

Finished products

 

$

417

 

 

$

400

 

Raw materials, supplies and work in process

 

 

200

 

 

 

197

 

 

 

$

617

 

 

$

597