Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Parts and raw materials | $134,816 | $76,647 |
| Work in process | 10,269 | 6,644 |
| Finished goods | 84,934 | 14,696 |
| Total | $230,019 | $97,987 |
Paragraphs:
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
NOTE 10. INVENTORIES
Our inventories are valued at the lower of cost or net realizable value and computed on a first-in, first-out (FIFO) basis. Components of inventories are as follows:
Question:
How were the company's inventories valued?