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INVENTORY VALUATION | 9 Months Ended
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Sep. 30, 2019
Inventory Disclosure [Abstract] |
INVENTORY VALUATION | INVENTORIES Inventories in the Condensed Consolidated Balance Sheets are comprised of the following components:
| September 30, 2019 |  | December 31, 2018
Raw materials | $ | 107,278 |  |  | $ | 103,820 |
Work-in-process | 69,671 |  |  | 53,950 |
Finished goods | 234,171 |  |  | 204,059 |
Total | $ | 411,120 |  |  | $ | 361,829 |
At September 30, 2019 and December 31, 2018, approximately 36% and 37%, respectively, of total inventories were valued using the last-in, first-out ("LIFO") method. The excess of current cost over LIFO cost was $77,112 and $79,626 at September 30, 2019 and December 31, 2018, respectively.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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