6.	INVENTORIES

The composition of inventories at June 30, 2017, and December 31, 2016, was as follows:

(In thousands)	June 30, 2017		December 31, 2016
Finished goods	$	110,366	$	127,597
Raw materials		68,006		46,066
Total inventories	$	178,372	$	173,663

Inventories are priced primarily using the last-in, first-out inventory valuation method. If the first-in, first-out inventory valuation method had been used for all inventories, total inventory balances would have been approximately $31,229,000 and $25,872,000 higher than reported at June 30, 2017, and December 31, 2016, respectively.