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Inventories

9 Months Ended

Sep. 30, 2013

6. INVENTORIES

Inventories of continuing operations of the Company at September 30, 2013 and December 31, 2012 are summarized in the following table:



		September 30,		December 31,
		2013		2012

Finished goods	$	67,018	$	78,715
Work-in-process		13,127		17,693
Raw materials		22,117		19,764
Total inventories at current costs		102,262		116,172
Less: LIFO reserve		(8,765)		(9,064)
	$	93,497	$	107,108

Inventories of the Company’s continuing operations 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. Interim LIFO calculations are based on management’s estimates of expected year-end levels and costs.

- 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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