Inventories

6 Months Ended

Jun. 27, 2020

Inventories by major classification are as follows:


(Amounts in millions)	June 27, 2020		December 28, 2019
Finished goods	$	679.4	$	661.0
Work in progress	58.6		57.1
Raw materials	130.5		126.8
Total FIFO value	868.5		844.9
Excess of current cost over LIFO cost	(84.5)		(84.5)
Total inventories – net	$	784.0	$	760.4

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 58% of total inventories as of both June 27, 2020 and December 28, 2019. The company accounts for its non-U.S. inventory on the FIFO method. As of June 27, 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 and six months ended June 27, 2020, or June 29, 2019.