INVENTORIES



(Millions of Dollars)	2018		2017
Finished products	$	1,707.4	$	1,461.4
Work in process	150.8		155.5
Raw materials	515.3		401.5
Total	$	2,373.5	$	2,018.4

Net inventories in the amount of $1.2 billion at December 29, 2018 and $896.9 million at December 30, 2017 were valued at the lower of LIFO cost or market. If the LIFO method had not been used, inventories would have been $44.6 million higher than reported at December 29, 2018 and $2.9 million lower than reported at December 30, 2017.

As part of the Nelson acquisition in the second quarter of 2018, the Company acquired net inventory with an estimated fair value of $48.6 million. Refer to Note E, Acquisitions, for further discussion of the Nelson acquisition.