
7.	Inventories

Inventories are valued at the lower of cost or market. Inventories at March 31, 2017 and December 31, 2016 consisted of the following:



	March 31, 2017			December 31, 2016
Inventories carried at LIFO:
Finished goods	$	43,300		$	39,142
Raw materials, production parts and work-in-process	25,612			23,980
LIFO reserve	(28,190		)	(28,190		)
Total LIFO inventories	40,722			34,932
Inventories carried at FIFO:
Finished goods	34,274			31,044
Raw materials, production parts and work-in-process	13,097			12,646
Total FIFO inventories	47,371			43,690
Total inventories	$	88,093		$	78,622

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