7. INVENTORIES

The components of inventories are as follows:



30 September	2017			2016
Finished goods	$	120.0		$	131.3
Work in process	15.7			18.3
Raw materials, supplies and other	223.0			117.1
Total FIFO Cost	358.7			266.7
Less: Excess of FIFO cost over LIFO cost	(23.3		)	(11.7		)
Inventories	$	335.4		$	255.0

Inventories valued using the LIFO method comprised 48.7% and 22.9% of consolidated inventories before LIFO adjustment at 30 September 2017 and 2016, respectively. Liquidation of LIFO inventory layers in 2017, 2016, and 2015 did not materially affect the results of operations.

FIFO cost approximates replacement cost.