INVENTORIES

Inventories include raw materials, work-in-process, finished goods, and materials and supplies.



DOLLAR AMOUNTS IN MILLIONS	MARCH 31, 2018		DECEMBER 31, 2017
LIFO inventories:
Logs	$	19	$	17
Lumber, plywood, panels and fiberboard	76		66
Other products	16		10
FIFO or moving average cost inventories:
Logs	64		38
Lumber, plywood, panels, fiberboard and engineered wood products	109		91
Other products	77		77
Materials and supplies	84		84
Total	$	445	$	383

LIFO – the last-in, first-out method – applies to major inventory products held at our U.S. locations. The FIFO – the first-in, first-out method – or moving average cost methods apply to the balance of our U.S. raw material and product inventories, all material and supply inventories and all foreign inventories. If we used FIFO for all LIFO inventories, our stated inventories would have been higher by $70 million as of March 31, 2018, and $70 million as of December 31, 2017.