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INVENTORIES
 6 Months Ended
Jul. 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 $1.0 million and $1.1 million as of July 1, 2017 and December 31, 2016, respectively:

 

 

 

July 1,

 

December 31,

 

 

 

2017

 

2016

 

Raw materials

 

$
21,865,236

 

$
17,404,606

 

Work-in-progress

 
3,661,950

 
3,397,225

 

Finished goods

 
5,164,661

 
3,443,491

 

 

 

 

 

 

 

 

 

$
30,691,847

 

$
24,245,322