5.	INVENTORIES

Inventories, at LIFO (last-in, first-out) value, consist of the following (in thousands):


	September 30, 2011			December 31, 2010
Finished goods	$	37,292		$	29,983
Raw materials		24,252			27,589

Total FIFO inventories		61,544			57,572
Reserve to adjust inventories to LIFO value		(28,551	)		(28,551	)

Total LIFO inventories	$	32,993		$	29,021

An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management's estimates of expected year-end inventory levels and costs. Since inventory levels and costs are subject to factors beyond management's control, interim results are subject to the final year-end LIFO inventory valuation.