(12) Most inventories owned by Deere & Company and its U.S. equipment subsidiaries and certain foreign equipment subsidiaries are valued at cost on the “last-in, first-out” (LIFO) method. If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows:


	January 29		October 30		January 31
	2017		2016		2016
Raw materials and supplies	$	1,453	$	1,369	$	1,638
Work-in-process		564		453		538
Finished goods and parts		3,379		2,976		3,480
Total FIFO value		5,396		4,798		5,656
Less adjustment to LIFO value		1,436		1,457		1,406
Inventories	$	3,960	$	3,341	$	4,250