INVENTORIES

As of the dates indicated, inventories are comprised of the following (in thousands):



	January 31, 2019			October 31, 2018
Raw materials	$	75,525		$	67,468
Work-in-process	10,045			9,589
Finished goods	225,937			188,575
Deferred cost of goods sold	60,616			48,057
	372,123			313,689
Provision for excess and obsolescence	(49,017		)	(50,938		)
	$	323,106		$	262,751

Ciena writes down its inventory for estimated obsolescence or unmarketable inventory by an amount equal to the difference between the cost of inventory and the estimated net realizable value based on assumptions about future demand and market conditions. During the first three months of fiscal 2019, Ciena recorded a provision for excess and obsolescence of $4.7 million, primarily related to a decrease in the forecasted demand for certain Networking Platforms products. Deductions from the provision for excess and obsolete inventory relate primarily to disposal activities.