Inventories

6 Months Ended

Jul. 03, 2021

Notes To Financial Statements [Abstract]

Inventories

Inventories

Inventories are composed of material, labor and overhead and are stated at the lower of cost or market. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at July 3, 2021 and January 2, 2021 are as follows (in thousands): 

	Jul 3, 2021		Jan 2, 2021
Raw materials and parts	$	323,211	$	263,200
Work-in-process	61,029		55,104
Finished goods	224,330		221,894
	$	608,570	$	540,198