Inventories



	June 30, 2018		December 31, 2017
Finished goods	$	682	$	669
Work-in-process	1,485		1,349
Purchased raw materials	401		381
Operating supplies	91		81
Total inventories	$	2,659	$	2,480

At June 30, 2018 and December 31, 2017, the portion of inventories valued on a last-in, first-out (LIFO) basis was $1,372 and $1,208, respectively. If valued on an average-cost basis, total inventories would have been $527 and $481 higher at June 30, 2018 and December 31, 2017, respectively.

In the second quarter of 2018, a charge of $23 was recorded in Cost of goods sold and Inventories to reflect a physical inventory adjustment at one plant in the EP&S segment. While a portion of this charge relates to prior years, the majority relates to 2018. The out-of-period amounts are not material to any interim or annual periods.