Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

      Inventories valued at LIFO represented 42% and 60% of total inventory for the years ended December 31, 2019 and 2018, respectively. The excess of current costs (market value) over LIFO-valued inventories was $10,910,000 and $10,646,000 on December 31, 2019 and December 31, 2018, respectively. Inventories consisted of the following on a cost basis, net of reserves for obsolescence and LIFO:

	December 31,
(in thousands)	2019		2018
Finished goods and parts	$	227,823	$	149,298
Work in process	21,918		12,732
Raw materials	17,933		14,600
Inventory, net	$	267,674	$	176,630