Annual report pursuant to Section 13 and 15(d)

INVENTORIES

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INVENTORIES
12 Months Ended
Dec. 31, 2019
Inventories [Abstract]  
INVENTORIES INVENTORIES
Inventories consist primarily of raw materials and packaging (which include ingredients and supplies) and finished goods (which include concentrates and syrups in our concentrate operations and finished beverages in our finished product operations). Inventories are valued at the lower of cost or net realizable value. We determine cost on the basis of the average cost or first-in, first-out methods. Inventories consisted of the following (in millions):
December 31,
2019

2018

Raw materials and packaging
$
2,180

$
2,025

Finished goods
851

773

Other
348

273

Total inventories
$
3,379

$
3,071