6.	INVENTORIES

The composition of inventories was as follows:

(In thousands)	June 30, 2016		December 31, 2015
Finished goods	$	129,734	$	124,481
Raw materials		50,917		45,943
Total inventories	$	180,651	$	170,424

Inventories are priced primarily using the last-in, first-out inventory valuation method. If the first-in, first-out inventory valuation method had been used for all inventories, total inventory balances would have been approximately $25,863,000 and $18,171,000 higher than reported at June 30, 2016, and December 31, 2015, respectively.