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Inventories

6 Months Ended

Jun. 30, 2014

5.	Inventories


(Table only in thousands)	June 30, 2014			December 31, 2013
Raw materials	$	19,563		$	19,753
Work in process		2,795			3,172
Finished goods		2,549			2,987
Obsolescence allowance		(844	)		(536	)

	$	24,063		$	25,376

Amounts credited to the allowance for obsolete inventory and charged to cost of sales amounted to $0.2 million and $0.1 million for the three-month periods and $0.3 million and $0.1 million for the six-month periods ended June 30, 2014 and 2013, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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