NOTE 4. Inventories

Inventories are summarized as follows:



	June 30, 2015			March 31, 2015
Finished goods	$	1,049		$	1,040
Work in process		9,933			7,515
Purchased and manufactured parts		17,456			13,418
		28,438			21,973
Reserve for slow moving and obsolescence		(2,656	)		(2,546	)
Total	$	25,782		$	19,427

Inventory obsolescence is determined by identifying specific items based on the age of inventory and by establishing a general reserve based on annual purchases. Analyzing inventory by age showed little movement once items have aged five years, and historical trends showed that 1.1% of purchases would eventually be scrapped. Accordingly, the Company uses these two factors in determining the amount of the reserve.