Inventories

6 Months Ended

Jun. 30, 2011

5. Inventories

Inventories are valued at the lower of cost or market. Inventories at June 30, 2011 and December 31, 2010 consisted of the following:

	June 30,			December 31,
	2011			2010
Inventories carried at LIFO:
Finished goods	$	34,840		$	31,355
Raw materials, production parts and work-in-process		19,018			15,414
LIFO reserve		(26,462	)		(26,462	)
Total LIFO inventories		27,396			20,307

Inventories carried at FIFO:
Finished goods		26,630			23,770
Raw materials, production parts and work-in-process		20,368			17,669
Total FIFO inventories		46,998			41,439
Total inventories	$	74,394		$	61,746

The LIFO reserve approximates the difference between LIFO carrying cost and FIFO.

- 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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