Inventories

Inventories consist of the following:



(In thousands)	February 27, 2016			August 29, 2015
Finished goods	$	28,068		$	12,179
Work-in-process	74,998			66,602
Raw materials	64,235			65,928
Total	167,301			144,709
LIFO reserve	(33,132		)	(32,544		)
Total inventories	$	134,169		$	112,165

The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates. Of the $167.3 million and $144.7 million inventory at February 27, 2016 and August 29, 2015, respectively, $154.5 million and $136.3 million is valued on a LIFO basis; the remaining inventories of $12.8 million and $8.4 million at February 27, 2016 and August 29, 2015, respectively, are valued on a FIFO basis.