Inventories

9 Months Ended

Sep. 30, 2011

7. INVENTORIES

Inventories of the Company at September 30, 2011 and December 31, 2010 are summarized in the following table:

		September 30,			December 31,
		2011			2010
		In thousands
Finished goods		$	71,934		$	71,634
Work-in-process			8,066			5,346
Raw materials			23,020			21,387

Total inventories at current costs			103,020			98,367
Less:	LIFO reserve		(9,140	)		(8,000	)
		$	93,880		$	90,367

Inventories of the Company are generally valued at the lower of last-in, first-out (LIFO) cost or market. Other inventories of the Company are valued at average cost or market, whichever is lower. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management's estimates of expected year-end levels and costs.