Inventories

9 Months Ended

Sep. 26, 2020

G. Inventories

Inventories consist of raw materials, work in process and finished goods. Raw materials, which principally consist of hops, flavorings, apple juice, other brewing materials and packaging, are stated at the lower of cost, determined on the

first-in,

first-out

basis, or net realizable value. The Company’s goal is to maintain on hand a supply of at least one year for essential hop varieties, in order to limit the risk of an unexpected reduction in supply. Inventories are generally classified as current assets. The Company classifies hops inventory in excess of two years of forecasted usage in other long-term assets. The cost elements of work in process and finished goods inventory consist of raw materials, direct labor and manufacturing overhead. Inventories consist of the following:


	September 26,		December 28,
	2020		2019
	(in thousands)
Current inventory:
Raw materials	$	61,705	$	61,522
Work in process		14,287		12,631
Finished goods		47,839		31,885

Total current inventory		123,831		106,038
Long term inventory		15,327		10,048

Total inventory	$	139,158	$	116,086