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Inventories | 12 Months Ended
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Dec. 31, 2021
Inventory, Net [Abstract] |
Inventories | Inventories Major components of inventories were as follows (in thousands):
| 2021 |  | 2020
Finished products and components | $ | 166,922 |  |  | $ | 133,122 |
Products and components in various stages of completion | 117,063 |  |  | 83,791 |
Raw materials and purchased components | 185,291 |  |  | 129,319 |
Subtotal | 469,276 |  |  | 346,232 |
Reduction to LIFO cost | (86,975) |  |  | (60,528) |
Total | $ | 382,301 |  |  | $ | 285,704 |
Inventories valued under the LIFO method were $211.1 million in 2021 and $150.1 million in 2020. All other inventory was valued on the FIFO method.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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