DOW INC
For the period ended Dec 31, 2023. Filed Jan 31, 2024.
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FY2023 · Filed Jan 31, 2024
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Inventories
NOTE 8 –INVENTORIES
The following table provides a breakdown of inventories:
| In millions | 2023 | 2022 |
|---|---|---|
| Finished goods | $3,413 | $4,150 |
| Work in process | 1,234 | 1,476 |
| Raw materials | 746 | 954 |
| Supplies | 992 | 892 |
| Total | $6,385 | $7,472 |
| Adjustment of inventories to the LIFO basis | (309) | (484) |
| Total inventories | $6,076 | $6,988 |
At December 31, 2023, approximately 29 percent,60 percent and 11 percent of the Company's inventories were accounted for under the LIFO, FIFO and average cost methods, respectively. At December 31, 2022, approximately 27 percent,64 percent and 9 percent of the Company's inventories were accounted for under the LIFO, FIFO and average cost methods, respectively.
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