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Inventory

12 Months Ended

Dec. 31, 2012

6.	Inventory

The following table summarizes our inventories:


	December 31,
	2012			2011
Raw materials and supplies	$	19,598		$	22,237
In-process inventories		5,039			2,655
Finished goods and goods for resale		152,973			95,105
Reserve for stock obsolescence		(2,896	)		(2,307	)

Total	$	174,714		$	117,690

Because of the nature of the products supplied by the Company, great attention is paid to inventory rotation. As of December 31, 2011 inventory days amounted to 81 days. In 2012 we changed methodology of calculating inventory rotation, so that it is more adequate to the nature of our business. Using new methodology days of inventory as at 31 December, 2011 amounted to 30 days. As of 31 December, 2012 it increased to 45 days. Where goods are estimated to be obsolete or unmarketable they are written down to a value reflecting the net realizable value in their relevant condition.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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