INVENTORIES

9 Months Ended

Sep. 30, 2022

INVENTORIES

INVENTORIES

NOTE 9 — INVENTORIES

Inventories in the Condensed Consolidated Balance Sheets are comprised of the following components:

	September 30, 2022		December 31, 2021
Raw materials	$	190,369	$	143,394
Work-in-process		106,212		97,834
Finished goods		335,795		298,691
Total	$	632,376	$	539,919

At September 30, 2022 and December 31, 2021, approximately 40% and 36%, respectively, of total inventories were valued using the last-in, first-out ("LIFO") method. The excess of current cost over LIFO cost was $134,597 and $114,176 at September 30, 2022 and December 31, 2021, respectively.