Inventories

Inventories consist of the following:



(In thousands)	August 27, 2016			August 29, 2015
Finished goods	$	19,129		$	12,179
Work-in-process	76,350			66,602
Raw materials	60,740			65,928
Total	156,219			144,709
LIFO reserve	(33,697		)	(32,544		)
Total inventories	$	122,522		$	112,165

The above value of inventories, before reduction for the LIFO reserve, approximates replacement cost at the respective dates. Of the $156.2 million and $144.7 million inventory at August 27, 2016 and August 29, 2015, respectively, $149.4 million and $135.3 million is valued on a LIFO basis. The remaining inventories of $6.8 million and $8.4 million at August 27, 2016 and August 29, 2015, respectively, are valued on a FIFO basis.