Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

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INVENTORIES
6 Months Ended
Jun. 26, 2011
INVENTORIES  
INVENTORIES

NOTE 8.  INVENTORIES

 

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

 

 

 

June 26,

 

December 31,

 

In millions

 

2011

 

2010

 

Finished products

 

$

1,196

 

$

1,019

 

Work-in-process and raw materials

 

1,182

 

1,048

 

Inventories at FIFO cost

 

2,378

 

2,067

 

Excess of FIFO over LIFO

 

(103

)

(90

)

Total inventories

 

$

2,275

 

$

1,977