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Inventories | 6 Months Ended
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Jun. 27, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories The components of inventories are as follows:
| At June 27, 2020 |  | At December 31, 2019
Finished goods | $ | 1,377,173 |  |  | 1,610,742 |
Work in process | 117,588 |  |  | 144,639 |
Raw materials | 427,287 |  |  | 526,947 |
Total inventories | $ | 1,922,048 |  |  | 2,282,328 |
Inventories are stated at the lower of cost or market (net realizable value). Cost has been determined using the first-in first-out method (“FIFO”). Costs included in inventory include raw materials, direct and indirect labor and employee benefits, depreciation, general manufacturing overhead and various other costs of manufacturing. Market, with respect to all inventories, is replacement cost or net realizable value. Inventories on hand are compared against anticipated future usage, which is a function of historical usage, anticipated future selling price, expected sales below cost, excessive quantities and an evaluation for obsolescence. Actual results could differ from assumptions used to value obsolete inventory, excessive inventory or inventory expected to be sold below cost.

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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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