G. Inventories


December 31,	2015		2014
Finished goods	$	811	$	768
Work-in-process		1,272		1,035
Bauxite and alumina		445		578
Purchased raw materials		720		508
Operating supplies		194		193
	$	3,442	$	3,082

At December 31, 2015 and 2014, the total amount of inventories valued on a LIFO basis was $1,373 and $1,514, respectively. If valued on an average-cost basis, total inventories would have been $559 and $767 higher at December 31, 2015 and 2014, respectively. During 2015 and 2013, reductions in LIFO inventory quantities caused partial liquidations of the lower cost LIFO inventory base. These liquidations resulted in the recognition of income of $1 ($1 after-tax) in 2015 and $26 ($17 after-tax) in 2013.