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INVENTORIES

12 Months Ended

Dec. 31, 2011

INVENTORIES

3. INVENTORIES

Inventories consisted of the following (amounts in thousands):

		December 31, 2011			January 1, 2011
Finished goods		$	7,477		$	7,232
Work in process		950			748
Raw materials and supplies		8,970			8,643
		$	17,397		$	16,623

If inventories valued on the LIFO basis were valued at current costs, inventories would be higher by $5,783,000 and $5,244,000 at December 31, 2011 and January 1, 2011, respectively.

Reductions in inventory quantities during 2011 at one location resulted in the liquidation of LIFO inventory layers carried at costs higher than the costs of current purchases. The effect was to increase cost of sales by approximately $80,000 for the year. Reductions in inventory quantities during 2010 at one location resulted in the liquidation of LIFO inventory layers carried at costs higher than the costs of current purchases. The effect was to increase cost of sales by approximately $55,000 for the year.

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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