Inventories

6 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Inventories

NOTE F – INVENTORIES

Inventories are carried at the lower of cost or net realizable value. Inventories are primarily stated at cost using the weighted-average cost method. In addition, certain inventories are valued at cost using the last-in, first-out (LIFO) method.

The following table summarizes Ashland’s inventories as of the reported Condensed Consolidated Balance Sheet dates.

(In millions)	March 31, 2020		September 30, 2019
Finished products	$	420	$	400
Raw materials, supplies and work in process		191		197
	$	611	$	597