Note 4: Inventories

Inventories by major classification were as follows:


	September 28,			December 29,
(Amounts in millions)	2013			2012
Finished goods	$	380.2		$	353.6
Work in progress		43.1			38.6
Raw materials		89.2			83.8

Total FIFO value		512.5			476.0
Excess of current cost over LIFO cost		(72.2	)		(71.8	)

Total inventories – net	$	440.3		$	404.2

Inventories accounted for using the first-in, first-out (“FIFO”) method as of both September 28, 2013, and December 29, 2012, approximated 60% of total inventories. The company accounts for its non-U.S. inventory on the FIFO basis. As of September 28, 2013, approximately 31% of the company’s U.S. inventory was accounted for using the FIFO basis and 69% was accounted for using the last-in, first-out (“LIFO”) basis. There were no LIFO inventory liquidations in the three and nine month periods ended September 28, 2013, or September 29, 2012.