NOTE B — INVENTORIES

Inventories consist of:

	January 31,
	2016		2015
	(In thousands)
Finished goods	$	484,805	$	417,332
Raw materials and work-in-process		506		8,848
	$	485,311	$	426,180

Raw materials of $7.7 million, net of allowances, were maintained in China at January 31, 2015. Raw material inventory primarily consisted of leather skins. The Company no longer carries this type of raw material inventory and during the year ended January 31, 2016 all the leather inventory was converted to finished products.