The following information is available for Chemco Inc's inventories as of June 30, 2015:

We used the LIFO method of valuing our inventories for approximately 40% and 44% of total inventories at June 30, 2015 and 2014, respectively.
(a) What method of inventory is used for the other 60% and 56% of total inventories?
(b) Explain the meaning of each of the numbers listed in the table?

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(in Thousands) 2015 2014 Finished goods Work in process Raw materials and supplies Inventories at current cost Less LIFO valuation Total inventories $382,925 $303,249 76524 60,588 49,844 413,681 531,Gus (83,829) (88,368) S447,886 $325,313