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INVENTORIES
 3 Months Ended
Apr. 01, 2017
INVENTORIES  
INVENTORIES

 

NOTE 2 — INVENTORIES

 

Inventories, which are stated at the lower of cost or market with cost determined using the first-in, first-out method, consist of the following, net of applicable reserves of $1.2 million and $1.1 million as of April 1, 2017 and December 31, 2016, respectively:

 

 

 

April 1,

 

December 31,

 

 

 

2017

 

2016

 

Raw materials

 

$
29,862,338

 

$
17,404,606

 

Work-in-progress

 
5,288,096

 
3,397,225

 

Finished goods

 
6,821,336

 
3,443,491

 

 

 

 

 

 

 

 

 

$
41,971,770

 

$
24,245,322