INVENTORIES

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



DOLLAR AMOUNTS IN MILLIONS	MARCH 31, 2019		DECEMBER 31, 2018
LIFO inventories:
Logs	$	15	$	11
Lumber, plywood, panels and fiberboard	83		75
Other products	12		10
FIFO or moving average cost inventories:
Logs	58		35
Lumber, plywood, panels, fiberboard and engineered wood products	105		86
Other products	86		83
Materials and supplies	92		89
Total	$	451	$	389

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 $79 million as of March 31, 2019, and December 31, 2018.