Note 9 – Inventories


(In thousands)	August 24, 2012		February 29, 2012		August 26, 2011
Raw materials	$	23,256	$	17,565	$	23,906
Work in process		13,116		9,452		12,875
Finished products		301,634		242,767		272,948

		338,006		269,784		309,729
Less LIFO reserve		82,939		81,077		80,356

		255,067		188,707		229,373
Display materials and factory supplies		20,911		20,238		19,432

	$	275,978	$	208,945	$	248,805

The valuation of inventory under the Last-In, First-Out (“LIFO”) method is made at the end of each fiscal year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations, by necessity, are based on estimates of expected fiscal year-end inventory levels and costs, and are subject to final fiscal year-end LIFO inventory calculations.

Inventory held on location for retailers with scan-based trading arrangements, which is included in finished products, totaled $58.6 million, $52.0 million and $51.3 million as of August 24, 2012, February 29, 2012 and August 26, 2011, respectively.