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INVENTORIES
6 Months Ended
Sep. 30, 2012
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES
Inventories are stated at the lower of cost (average-cost or specific-identification methods) or market. The components of inventories are as follows:
 
September 30, 2012
 
March 31, 2012
Raw materials
$
64,271

 
$
53,103

Work-in-process, including manufactured and purchased components
920,467

 
887,686

Finished goods
45,555

 
41,617

Less: unliquidated progress payments
(138,940
)
 
(164,450
)
Total inventories
$
891,353

 
$
817,956


Work-in-process inventory includes capitalized pre-production costs. Capitalized pre-production costs include certain contract costs, including applicable overhead, incurred before a product is manufactured on a recurring basis. Significant customer-directed work changes can also cause pre-production costs to be incurred. These costs are typically recovered over a contractually determined number of ship set deliveries and the Company believes these amounts will be fully recovered. The balance of capitalized pre-production costs at September 30, 2012 and March 31, 2012 was $36,555 and $19,385, respectively,