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INVENTORIES

6 Months Ended

Mar. 31, 2013

3.	INVENTORIES

Inventories consist of the following:



	March 31,		September 30,
	2013		2012

Finished goods	$	8,963	$	2,075
Work-in-process		36,463		28,851
Raw materials and supplies		10,005		12,340
Deferred cost of revenues		4,941		891
Under(over) applied manufacturing overhead costs		(2,737)		-

Total	$	57,635	$	44,157

For our Specialty Chemicals segment, purchase price variances or volume or capacity cost variances associated with indirect manufacturing costs that are planned and expected to be absorbed by goods produced through the end of our fiscal year are deferred at interim reporting dates as under (over) applied manufacturing overhead costs. The effect of unplanned or unanticipated purchase price or volume variances are applied to goods produced in the period.

- 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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