(13) Inventories

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 27		October 28		January 28
	2019		2018		2018
Raw materials and supplies	$	2,506	$	2,233	$	2,191
Work-in-process		1,026		776		924
Finished goods and parts		5,693		4,777		4,980
Total FIFO value		9,225		7,786		8,095
Less adjustment to LIFO value		1,823		1,637		1,481
Inventories	$	7,402	$	6,149	$	6,614