Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

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INVENTORIES
6 Months Ended
Jul. 01, 2012
INVENTORIES  
INVENTORIES

NOTE 8.  INVENTORIES

 

Inventories are stated at the lower of cost or market.  Inventories included the following:

 

 

 

July 1,

 

December 31,

 

In millions

 

2012

 

2011

 

Finished products

 

$

1,502

 

$

1,220

 

Work-in-process and raw materials

 

1,190

 

1,019

 

Inventories at FIFO cost

 

2,692

 

2,239

 

Excess of FIFO over LIFO

 

(111

)

(98

)

Total inventories

 

$

2,581

 

$

2,141