Inventories

Inventories consist of raw materials, work in process and finished goods. Raw materials, which principally consist of hops, other brewing materials and packaging, are stated at the lower of cost, determined on the first-in, first-out basis, or market. Inventories are generally classified as current assets. The Company’s goal is to maintain a supply of approximately two years for essential hop varieties on-hand in order to limit the risk of an unexpected reduction in supply. As of March 30, 2013, the Company has classified approximately $1.3 million of hops inventory in other long term assets that are above two years forecasted usage. The cost elements of work in process and finished goods inventory consist of raw materials, direct labor and manufacturing overhead. Inventories consist of the following:


	March 30, 2013			December 29, 2012
	(in thousands)
Raw materials	$	31,525		$	27,867
Work in process		7,579			8,897
Finished goods		13,955			9,092

		53,059			45,856
Less portion included in other long term assets		(1,348	)		(1,495	)

	$	51,711		$	44,361