Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of:

	September 30, 2020		December 31, 2019
Leaf tobacco	$	42,448	$	44,516
Other raw materials	5,733		4,669
Work-in-process	645		333
Finished goods	67,211		71,183
Inventories at current cost	116,037		120,701
LIFO adjustments	(21,489)		(21,939)
	$	94,548	$	98,762

All of the Company’s inventories at September 30, 2020 and December 31, 2019 are reported under the LIFO method. The $21,489 LIFO adjustment as of September 30, 2020 decreased the current cost of inventories by $14,761 for Leaf tobacco, $180 for Other raw materials, $24 for Work-in-process and $6,524 for Finished goods. The $21,939 LIFO adjustment as of December 31, 2019 decreased the current cost of inventories by $15,210 for Leaf tobacco, $182 for Other raw materials, $24 for Work-in-process and $6,523 for Finished goods.

The amount of capitalized MSA cost in “Finished goods” inventory was $20,969 and $20,472 at September 30, 2020 and December 31, 2019, respectively. Federal excise tax capitalized in inventory was $27,648 and $27,676 at September 30, 2020 and December 31, 2019, respectively.

At September 30, 2020, Liggett had tobacco purchase commitments of approximately $17,483. Liggett has a single-source supply agreement for reduced ignition propensity cigarette paper through 2022.