Note 9 – Inventories


(In thousands)	November 25, 2016		February 29, 2016		November 27, 2015
Raw materials	$	11,554	$	13,516	$	13,743
Work in process		5,947		8,116		7,229
Finished products		331,281		277,480		331,188

		348,782		299,112		352,160
Less LIFO reserve		80,506		80,159		81,661

		268,276		218,953		270,499
Display materials and factory supplies		7,731		8,503		9,021

	$	276,007	$	227,456	$	279,520

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 $84.6 million, $63.5 million and $84.4 million as of November 25, 2016, February 29, 2016 and November 27, 2015, respectively.