May 31, May 25, In Millions 2015 2014 Inventories: Raw materials and packaging $ 390.8 $ 419.0 Finished goods 1,268.6 1,260.2 Grain 95.7 97.1 Excess of FIFO over LIFO cost (a) (214.2) (216.9) Total $ 1,540.9 $ 1,559.4 (a) Inventories of $867.5 million as of May 31, 2015, and $904.2 million as of May 25, 2014, were valued at LIFO. During fiscal 2015, LIFO inventory layers were reduced. Results of operations were not materially affected by these liquidations of LIFO inventory. The difference between replace- ment cost and the stated LIFO inventory value is not materially differ- ent from the reserve for the LIFO valuation method. GENERAL MILLS, INC. AND SUBSIDIARIES Fiscal Year In Millions, Except per Share Data 2015 2014 2013 Net sales $ 17,630.3 $ 17,909.6 $ 17,774.1 Cost of sales 11,681.1 11,539.8 1 1,350.2