INVENTORIES

9 Months Ended

Jul. 28, 2019

INVENTORIES

INVENTORIES

(13)  Inventories

A majority of inventory 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 28		October 28		July 29
	2019		2018		2018
Raw materials and supplies	$	2,365	$	2,233	$	2,126
Work-in-process		815		776		795
Finished goods and parts		5,345		4,777		4,768
Total FIFO value		8,525		7,786		7,689
Less adjustment to LIFO value		1,778		1,637		1,450
Inventories	$	6,747	$	6,149	$	6,239