9. INVENTORY

At June 30, 2018 and December 31, 2017, inventory consisted of the following:

	June 30,		December 31,
(In thousands)	2018		2017
Raw materials	$	50,844	$	44,185
Work in process		1,985		1,939
Finished goods		67,708		76,418
Total	$	120,537	$	122,542

We establish reserves for estimated excess, obsolete, or unmarketable inventory equal to the difference between the cost of the inventory and the estimated fair value of the inventory based upon assumptions about future demand and market conditions. At June 30, 2018 and December 31, 2017, raw materials reserves totaled $17.5 million and $15.0 million, respectively, and finished goods inventory reserves totaled $9.7 million and $8.3 million, respectively.