INVENTORIES

Inventories are stated at the lower of cost, primarily determined on the first-in, first-out (FIFO) method, or market. The cost of manufactured inventory includes raw material, labor and overhead. Inventories consist of the following (in thousands):

	March 31,		December 31,
	2016		2015
Raw materials and components	$	70,631	$	65,790
Work in progress		22,271		18,201
Finished goods		98,608		67,260
Aftermarket parts		8,902		8,714
Used trailers		7,797		7,017
	$	208,209	$	166,982