INVENTORY

12 Months Ended

Dec. 31, 2019

Inventories in the Consolidated Balance Sheet is comprised of the following components:



	December 31,
	2019		2018
Raw materials	$	116,716	$	103,820
Work-in-process	63,744		53,950
Finished goods	213,288		204,059
Total	$	393,748	$	361,829

The valuation of LIFO inventories is made at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Actual year-end inventory levels and costs may differ from interim LIFO inventory valuations. At December 31, 2019 and 2018, approximately 36% and 37% of total inventories, respectively, were valued using the LIFO method. The excess of current cost over LIFO cost was $75,292 at December 31, 2019 and $79,626 at December 31, 2018.