Inventories



December 31,	2018		2017
Finished goods	$	668	$	669
Work-in-process	1,371		1,349
Purchased raw materials	366		381
Operating supplies	87		81
Total inventories	$	2,492	$	2,480

At December 31, 2018 and 2017, the portion of inventories valued on a LIFO basis was $1,292 and $1,208, respectively. If valued on an average-cost basis, total inventories would have been $530 and $481 higher at December 31, 2018 and 2017, respectively. During 2018 and 2017, reductions in LIFO inventory quantities caused partial liquidations of the lower cost LIFO inventory base. These liquidations resulted in the recognition of immaterial income amounts in 2018, 2017, and 2016.

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 Engineered Products and Solutions segment. While a portion of this charge relates to prior years, the majority relates to 2018. The out-of-period amounts were not material to any interim or annual periods.