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Inventories
3 Months Ended
Mar. 31, 2018
Inventory Disclosure [Abstract]  
Inventories
Inventories
 
Inventories valued at LIFO cost represented 61% and 62% of total inventory at March 31, 2018 and December 31, 2017, respectively.  The excess of current cost over LIFO valued inventories was approximately $7,919,000 at March 31, 2018 and December 31, 2017. An actual valuation of inventory under the LIFO method is made only at the end of each year based on the inventory levels and costs at that time.  Accordingly, interim LIFO must necessarily be based, to some extent, on management's estimates at each quarter end. Net inventories consist of the following:

 
 
(in thousands)
March 31,
2018
December 31,
2017
 
 
 
 
 
 
 
Finished goods
 
$
143,147

 
 
$
133,161

 
Work in process
 
11,024

 
 
10,243

 
Raw materials
 
14,040

 
 
12,164

 
Total inventory
 
$
168,211

 
 
$
155,568

 

 
Inventory obsolescence reserves were $7,286,000 at March 31, 2018 and $6,932,000 at December 31, 2017.