Inventories

The components of inventory as of January 31, 2015 and October 31, 2014 consisted of the following:



	January 31, 2015		October 31, 2014
Raw materials	$	28,962	$	25,460
Work-in-process ⁽¹⁾	27,658		30,435
Inventories	$	56,620	$	55,895


(1)	Work-in-process includes the standard components of inventory used to build the typical modules or module components that are intended to be used in future power plant orders or to service our service agreements. Included in work-in-process as of January 31, 2015 and October 31, 2014 was $17.0 million and $19.2 million, respectively, of completed standard components.

Raw materials consist mainly of various nickel powders and steels, various other components used in producing cell stacks and purchased components for balance of plant. Work-in-process inventory is comprised of material, labor, and overhead costs incurred to build fuel cell stacks and modules, which are subcomponents of a power plant.