(3)Inventory

Inventories are stated at the lower of cost or net realizable value. The Company applies net realizable value and obsolescence to the gross value of the inventory. Cost is determined using the first-in, first-out or weighted-average cost methods for finished goods and work-in-process. Supplies and consumables primarily consist of products used in our services provided to customers. The components of the inventory balances are as follows (in thousands):



	June 30, 2018		December 31, 2017
Finished goods	$	72,884	$	61,764
Raw materials		14,955		13,727
Work-in-process		10,051		6,174
Supplies and consumables		26,309		24,923
Total	$	124,199	$	106,588