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Inventories

12 Months Ended

Jul. 31, 2013

4.	Inventories

Inventories consist of the following as of July 31, 2013 and 2012 (in thousands):

	2013		2012

Raw materials and purchased components	$	791	$	1,151
Work in process		749		894
Finished goods		4,029		5,355
Total		5,569		7,400
Inventory obsolescence reserve		(543)		(2,139)
Total inventories	$	5,026	$	5,261

- 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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