6. Inventories

Inventories consisted of:


	June 30,			December 31,
($ in millions)	2011			2010

Finished goods	$	1,440		$	1,484
Raw materials and work in process		6,036			5,449
Supplies		298			315

Total (approximates current cost)		7,774			7,248
Reduction to LIFO costs		(141	)		(186	)

	$	7,633		$	7,062

Recognized as:
Inventories	$	6,225		$	5,868
Other assets		1,408			1,194

As of June 30, 2011 and December 31, 2010, $155 million and $225 million, respectively, of purchase accounting adjustments to inventories remained which are recognized as a component of Materials and production costs as the related inventories are sold. Amounts recognized as Other assets are comprised almost entirely of raw materials and work in process inventories. At June 30, 2011 and at December 31, 2010, these amounts included $1.3 billion and $1.0 billion, respectively, of inventories not expected to be sold within one year, principally vaccines. In addition, these amounts included $111 million and $197 million at June 30, 2011 and December 31, 2010, respectively, of inventories produced in preparation for product launches.