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INVENTORY VALUATION
3 Months Ended
Mar. 31, 2020
Inventory Disclosure [Abstract]  
INVENTORY VALUATION INVENTORIES
Inventories in the Condensed Consolidated Balance Sheets are comprised of the following components:
 
March 31, 2020
 
December 31, 2019
Raw materials
$
110,641

 
$
116,716

Work-in-process
63,077

 
63,744

Finished goods
224,530

 
213,288

Total
$
398,248

 
$
393,748


At March 31, 2020 and December 31, 2019, approximately 37% and 36%, respectively, of total inventories were valued using the last-in, first-out ("LIFO") method. The excess of current cost over LIFO cost was $75,504 and $75,292 at March 31, 2020 and December 31, 2019, respectively.