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INVENTORIES | 12 Months Ended
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Dec. 28, 2019
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES
(Millions of Dollars) | 2019 |  | 2018
Finished products | $ | 1,526.0 |  |  | $ | 1,707.4 |
Work in process | 162.0 |  |  | 150.8 |
Raw materials | 567.0 |  |  | 515.3 |
Total | $ | 2,255.0 |  |  | $ | 2,373.5 |
Net inventories in the amount of $1.1 billion at December 28, 2019 and $1.2 billion at December 29, 2018 were valued at the lower of LIFO cost or market. If the LIFO method had not been used, inventories would have been higher than reported by $78.1 million at December 28, 2019 and $44.6 million at December 29, 2018.

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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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