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Inventories | 12 Months Ended
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Dec. 31, 2020
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Inventories | 12. Inventories Inventories are valued at the lower of weighted average cost and net realisable value. Cost comprises direct costs and, where appropriate, a proportion of attributable production overheads. Net realisable value is the estimated selling price less the estimated costs necessary to make the sale.
Inventories |  | € million 2020 |  |  | € million 2019 |
Raw materials and consumables |  |  | 1,523 |  |  |  | 1,399 |
Finished goods and goods for resale |  |  | 3,223 |  |  |  | 3,053 |
Total inventories |  |  | 4,746 |  |  |  | 4,452 |
Provision for inventories |  |  | (284 | ) |  |  | (288 | )
|  |  | 4,462 |  |  |  | 4,164 |
Provisions for inventories |  | € million 2020 |  |  | € million 2019 |
1 January |  |  | 288 |  |  |  | 205 |
Charge to income statement |  |  | 116 |  |  |  | 153 |
Reduction/releases |  |  | (97 | ) |  |  | (71 | )
Currency translations |  |  | (26 | ) |  |  | — |
Others(a) |  |  | 3 |  |  |  | 1 |
31 December |  |  | 284 |  |  |  | 288 |
(a) | Others include the amount relating to the acquisition/disposal of businesses.
Inventories with a value of €204 million (2019: €159 million) are carried at net realisable value, this being lower than cost. During 2020, a total expense of €381 million (2019: €363 million) was recognised in the income statement for inventory write downs and losses.

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