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Inventories

3 Months Ended

Mar. 31, 2013


5.	Inventories

Inventories are valued at the lower of cost or market. Inventories at March 31, 2013 and December 31, 2012 consisted of the following:



	March 31, 2013			December 31, 2012
Inventories carried at LIFO:
Finished goods	$	35,678		$	33,546
Raw materials, production parts and work-in-process	13,994			14,291
LIFO reserve	(27,608		)	(27,608		)
Total LIFO inventories	22,064			20,229
Inventories carried at FIFO:
Finished goods	30,133			25,623
Raw materials, production parts and work-in-process	11,929			12,284
Total FIFO inventories	42,062			37,907
Total inventories	$	64,126		$	58,136

The LIFO reserve approximates the difference between LIFO carrying cost and FIFO.

- 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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