INVENTORIES

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5: INVENTORIES

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

DOLLAR AMOUNTS IN MILLIONS	MARCH 31, 2020		DECEMBER 31, 2019
LIFO inventories:
Logs	$	20	$	19
Lumber, plywood, panels and fiberboard		89		82
Other products		14		10
FIFO or moving average cost inventories:
Logs		69		28
Lumber, plywood, panels, fiberboard and engineered wood products		92		84
Other products		99		98
Materials and supplies		97		95
Total	$	480	$	416

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 $76 million as of March 31, 2020 and December 31, 2019.