Inventories

12 Months Ended

Dec. 31, 2019



December 31,	2019		2018
Finished goods	$	671	$	668
Work-in-process	1,316		1,371
Purchased raw materials	343		366
Operating supplies	99		87
Total inventories	$	2,429	$	2,492

At December 31, 2019 and 2018, the portion of inventories valued on a LIFO basis was $1,257 and $1,292, respectively. If valued on an average-cost basis, total inventories would have been $445 and $530 higher at December 31, 2019 and 2018, respectively. During 2019 and 2018, 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 2019, 2018, and 2017.

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 GRP segment (this plant was previously included in the EP&F segment prior to the transfer of the aluminum extrusions operations from the EP&F segment to the GRP segment in the first quarter of 2019 - see Note C). 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.