C. Inventories

Inventories consisted of the following (in thousands):


	January 31, 2017		April 30, 2016
Finished products	$	3,568	$	3,707
Work in process		2,101		1,889
Raw materials		10,062		10,030

	$	15,731	$	15,626

The Company uses the last-in, first-out (LIFO) method of valuing inventory for its domestic operations, which represents $14,272,000 of inventory at January 31, 2017 and $13,373,000 at April 30, 2016. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation.