Inventories

Inventories by major classification are as follows:



(Amounts in millions)	June 30, 2018			December 30, 2017
Finished goods	$	566.9		$	541.9
Work in progress	50.7			49.3
Raw materials	127.1			122.7
Total FIFO value	744.7			713.9
Excess of current cost over LIFO cost	(76.4		)	(75.1		)
Total inventories – net	$	668.3		$	638.8

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 61% of total inventories as of both June 30, 2018, and December 30, 2017. The company accounts for its non-U.S. inventory on the FIFO method. As of June 30, 2018, approximately 35% of the company’s U.S. inventory was accounted for using the FIFO method and 65% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and six months ended June 30, 2018, or July 1, 2017.