INVENTORIES

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



DOLLAR AMOUNTS IN MILLIONS	SEPTEMBER 30, 2018		DECEMBER 31, 2017
LIFO inventories:
Logs	$	16	$	17
Lumber, plywood, panels and fiberboard	63		66
Other products	13		10
FIFO or moving average cost inventories:
Logs	21		38
Lumber, plywood, panels, fiberboard and engineered wood products	107		91
Other products	80		77
Materials and supplies	89		84
Total	$	389	$	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 $69 million as of September 30, 2018, and $70 million as of December 31, 2017.