Inventories

Inventories by major classification as of 2018 and 2017 year end are as follows:



(Amounts in millions)	2018			2017
Finished goods	$	577.0		$	541.9
Work in progress	51.7			49.3
Raw materials	123.5			122.7
Total FIFO value	752.2			713.9
Excess of current cost over LIFO cost	(78.4		)	(75.1		)
Total inventories – net	$	673.8		$	638.8

Inventories accounted for using the FIFO method approximated 61% of total inventories as of both 2018 and 2017 year end. The company accounts for its non-U.S. inventory on the FIFO method. As of 2018 year end, approximately 35% of the company’s U.S. inventory was accounted for using the FIFO method and 65% was accounted for using the LIFO method. There were no LIFO inventory liquidations in 2018, 2017 or 2016.