INVENTORIES

9 Months Ended

Sep. 30, 2023

INVENTORIES

INVENTORIES

NOTE 8 — INVENTORIES

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

	September 30, 2023		December 31, 2022
Raw materials	$	162,417	$	181,076
Work-in-process		149,205		164,778
Finished goods		300,716		319,597
Total	$	612,338	$	665,451

At September 30, 2023 and December 31, 2022, approximately 36% and 38%, respectively, of total inventories were valued using the last-in, first-out ("LIFO") method. The excess of current cost over LIFO cost was $135,088 and $133,909 at September 30, 2023 and December 31, 2022, respectively.