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Inventories | 9 Months Ended
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Sep. 26, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories by major classification are as follows:
(Amounts in millions) | September 26, 2020 |  | December 28, 2019
Finished goods | $ | 664.8 |  |  | $ | 661.0 |
Work in progress | 59.3 |  |  | 57.1 |
Raw materials | 124.5 |  |  | 126.8 |
Total FIFO value | 848.6 |  |  | 844.9 |
Excess of current cost over LIFO cost | (84.2) |  |  | (84.5) |
Total inventories – net | $ | 764.4 |  |  | $ | 760.4 |
Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 56% and 58% of total inventories as of September 26, 2020 and December 28, 2019, respectively. The company accounts for its non-U.S. inventory on the FIFO method. As of September 26, 2020, 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 months ended September 26, 2020, or September 28, 2019.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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