7. INVENTORY

At March 31, 2014 and December 31, 2013, inventory consisted of the following:


	March 31,		December 31,
*(In thousands)*	2014		2013
Raw materials	$	41,546	$	44,093
Work in process		3,217		3,484
Finished goods		42,633		42,534

Total	$	87,396	$	90,111

We establish reserves for estimated excess, obsolete, or unmarketable inventory equal to the difference between the cost of the inventory and the estimated fair value of the inventory based upon assumptions about future demand and market conditions. At March 31, 2014 and December 31, 2013, raw materials reserves totaled $17.0 million and $16.9 million, respectively, and finished goods inventory reserves totaled $4.9 million and $6.1 million, respectively. The decrease in finished goods inventory reserve from December 31, 2013 to March 31, 2014 is primarily attributable to the disposal of inventory that was fully reserved.