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Inventories

6 Months Ended

Jun. 30, 2014


5.	Inventories

Inventories are valued at the lower of cost or market. Inventories at June 30, 2014 and December 31, 2013 consisted of the following:



	June 30, 2014			December 31, 2013
Inventories carried at LIFO:
Finished goods	$	41,598		$	36,238
Raw materials, production parts and work-in-process	18,525			13,922
LIFO reserve	(27,463		)	(27,463		)
Total LIFO inventories	32,660			22,697
Inventories carried at FIFO:
Finished goods	32,560			31,489
Raw materials, production parts and work-in-process	13,814			12,720
Total FIFO inventories	46,374			44,209
Total inventories	$	79,034		$	66,906

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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