Note 3 – Inventories

(In thousands)	2015			2014

Raw materials and supplies	$	58,987		$	53,586
Work-in-process		25,161			39,707
Finished goods		161,410			168,481
Valuation reserves		(6,180	)		(5,189	)

Inventories	$	239,378		$	256,585

Inventories valued using the LIFO method totaled $27.6 million at December 26, 2015 and $25.9 million at December 27, 2014. At December 26, 2015 and December 27, 2014, the approximate FIFO cost of such inventories was $80.7 million and $104.8 million, respectively. Additionally, the Company values certain inventories purchased for resale on an average cost basis. The value of those inventories was $48.8 million at December 26, 2015 and $47.7 million at December 27, 2014.

At the end of 2015 and 2014, the FIFO value of inventory consigned to others was $3.7 million and $4.3 million, respectively.