Most inventories owned by Deere & Company and its U.S. equipment subsidiaries and certain foreign equipment subsidiaries are valued at cost on the “last-in, first-out” (LIFO) method. If all of the Company’s inventories had been valued on a “first-in, first-out” (FIFO) method, estimated inventories by major classification in millions of dollars would have been as follows:

	January 31 2015		October 31 2014		January 31 2014
Raw materials and supplies	$	1,723	$	1,724	$	2,108
Work-in-process	697		654		847
Finished goods and parts	3,622		3,360		4,151
Total FIFO value	6,042		5,738		7,106
Less adjustment to LIFO value	1,515		1,528		1,551
Inventories	$	4,527	$	4,210	$	5,555