(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:


	July 30		October 30		July 31
	2017		2016		2016
Raw materials and supplies	$	1,571	$	1,369	$	1,394
Work-in-process		517		453		460
Finished goods and parts		3,571		2,976		3,395
Total FIFO value		5,659		4,798		5,249
Less adjustment to LIFO value		1,406		1,457		1,398
Inventories	$	4,253	$	3,341	$	3,851