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Inventories

6 Months Ended

Jul. 04, 2014

Note 2 — Inventories

Inventories, net are stated at the lower of cost, determined on a first-in, first-out basis, or market value and consisted of the following (in thousands):

	July 4,		January 3,
	2014		2014
Raw materials and purchased parts	$	1,867	$	1,367
Work-in-process		1,769		913
Finished goods		12,463		11,029
		16,099		13,309
Less: inventory reserves		1,167		795
	$	14,932	$	12,514

- 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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