E. Inventories

Inventories consisted of the following (in thousands):


	October 31, 2017		April 30, 2017
Finished products	$	3,260	$	3,179
Work in process		2,036		1,950
Raw materials		11,143		9,806

	$	16,439	$	14,935

The Company uses the last-in, first-out (LIFO) method of valuing inventory for its domestic operations, which represents $14,619,000 of inventory at October 31, 2017 and $12,730,000 at April 30, 2017. 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. The Company’s international subsidiaries’ inventories were $1,820,000 at October 31, 2017 and $2,205,000, at April 30, 2017, measured using the first-in, first-out (“FIFO”) method at the lower of cost and net realizable value.