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Inventories | 6 Months Ended
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Jun. 27, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories The Corporation values its inventory at the lower of cost or net realizable value. Inventories included in the Condensed Consolidated Balance Sheets consisted of the following (in thousands):
| June 27, 2020 |  | December 28, 2019
Finished products | $ | 117,601 |  |  | $ | 118,633 |
Materials and work in process | 69,740 |  |  | 75,526 |
Last-in, first-out ("LIFO") allowance | (30,694) |  |  | (30,694) |
Total inventories | $ | 156,647 |  |  | $ | 163,465 |
Inventory valued by the LIFO costing method | 81 | % |  | 65 | %

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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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