Note 4: Inventories

Inventories by major classification are as follows:


	September 27,			December 28,
(Amounts in millions)	2014			2013
Finished goods	$	420.6		$	374.7
Work in progress		47.5			45.0
Raw materials		89.1			87.3

Total FIFO value		557.2			507.0
Excess of current cost over LIFO cost		(72.6	)		(72.6	)

Total inventories – net	$	484.6		$	434.4

Inventories accounted for using the first-in, first-out (“FIFO”) method as of September 27, 2014, and December 28, 2013, approximated 57% and 60%, respectively, of total inventories. The company accounts for its non-U.S. inventory on the FIFO method. As of September 27, 2014, approximately 29% of the company’s U.S. inventory was accounted for using the FIFO method and 71% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and nine month periods ended September 27, 2014, or September 28, 2013.