INVENTORY

Inventories in the Consolidated Balance Sheet is comprised of the following components:



	December 31,
	2018		2017
Raw materials	$	103,820	$	97,577
Work-in-process	53,950		50,695
Finished goods	204,059		200,395
Total	$	361,829	$	348,667

The valuation of LIFO inventories is made at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Actual year-end inventory levels and costs may differ from interim LIFO inventory valuations. At December 31, 2018 and 2017, approximately 37% and 32% of total inventories, respectively, were valued using the LIFO method. The excess of current cost over LIFO cost was $79,626 at December 31, 2018 and $68,641 at December 31, 2017.