Inventories

3 Months Ended

Mar. 28, 2020

Inventories by major classification are as follows:


(Amounts in millions)	March 28, 2020		December 28, 2019
Finished goods	$	661.4	$	661.0
Work in progress	56.5		57.1
Raw materials	124.0		126.8
Total FIFO value	841.9		844.9
Excess of current cost over LIFO cost	(84.5)		(84.5)
Total inventories – net	$	757.4	$	760.4

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 57% and 58% of total inventories as of March 28, 2020, and December 28, 2019, respectively. The company accounts for its non-U.S. inventory on the FIFO method. As of March 28, 2020, approximately 31% of the company’s U.S. inventory was accounted for using the FIFO method and 69% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three months ended March 28, 2020, or March 30, 2019.