17 – Inventories

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Inventories (Million €)

 

Dec. 31, 2018

Dec. 31, 2017

Raw materials and factory supplies

 

3,541

3,255

Work in progress, finished goods and merchandise

 

8,507

6,979

Advance payments and services in progress

 

118

69

Inventories

 

12,166

10,303

Work in progress, finished goods and merchandise are combined into one item due to production conditions in the chemical industry. Services in progress mainly relate to services not invoiced as of the balance sheet date.

Cost of sales included inventories recognized as an expense amounting to €31,285 million in 2018, and €29,941 million in 2017.

Write-downs on inventory was recognized in the amount of €73 million in 2018 and reversals of write-downs in the amount of €18 million in 2017.

Of total inventories, €1,120 million was measured at net realizable value in 2018 and €863 million in 2017.