Inventories

3 Months Ended

Feb. 01, 2019

Inventories are valued at the lower of cost or net realizable value, with cost determined by the last-in, first-out ("LIFO") method for a majority of the company's inventories and the first-in, first-out ("FIFO") method for all other inventories. The company establishes a reserve for excess, slow-moving, and obsolete inventory that is equal to the difference between the cost and estimated net realizable value for that inventory. These reserves are based on a review and comparison of current inventory levels to planned production, as well as planned and historical sales of the inventory.

Inventories were as follows:



(Dollars in thousands)	February 1, 2019		February 2, 2018		October 31, 2018
Raw materials and work in process	$	124,458	$	114,150	$	115,280
Finished goods and service parts	364,393		391,994		315,179
Total FIFO value	488,851		506,144		430,459
Less: adjustment to LIFO value	72,201		66,801		72,200
Total inventories, net	$	416,650	$	439,343	$	358,259