Note 9 – Inventories


(In thousands)	November 27, 2015		February 28, 2015		November 28, 2014
Raw materials	$	13,743	$	14,809	$	11,668
Work in process		7,229		7,578		6,404
Finished products		331,188		297,899		343,460

		352,160		320,286		361,532
Less LIFO reserve		81,661		80,755		84,132

		270,499		239,531		277,400
Display materials and factory supplies		9,021		9,046		8,790

	$	279,520	$	248,577	$	286,190

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 $84.4 million, $63.3 million and $85.8 million as of November 27, 2015, February 28, 2015 and November 28, 2014, respectively.