Note 9 – Inventories


(In thousands)	May 27, 2016		February 29, 2016		May 29, 2015
Raw materials	$	14,742	$	13,516	$	18,271
Work in process		9,852		8,116		11,310
Finished products		282,592		277,480		294,217

		307,186		299,112		323,798
Less LIFO reserve		80,752		80,159		81,314

		226,434		218,953		242,484
Display materials and factory supplies		8,491		8,503		8,638

	$	234,925	$	227,456	$	251,122

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 $68.4 million, $63.5 million and $67.9 million as of May 27, 2016, February 29, 2016 and May 29, 2015, respectively.