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INVENTORIES

12 Months Ended

Dec. 31, 2013

NOTE 2 INVENTORIES

At December 31, 2013 and 2012, approximately 20% and 19%, respectively, of the total inventories are accounted for by the LIFO method. Inventories, by component, consisted of:




	2013		2012

Raw materials	$	114,501	$	125,889
Work in process		108,924		75,261
Finished goods		137,591		127,393

Total		361,016		328,543
Less LIFO reserve		(7,857)		(6,658)

Total	$	353,159	$	321,885

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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