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Note 4 - Inventories

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note

4

– Inventories

LIFO inventories are stated at the lower of cost or market and all other inventories are stated at the lower of cost or net realizable value. Replacement cost approximates current cost and the excess over LIFO cost is approximately

$62.5

million and

$63.7

million at

December 

31,

2019

and

2018,

respectively. Some inventory quantities were reduced during

2019

and

2018,

resulting in liquidation of some LIFO quantities carried at lower costs from earlier years versus current year costs. The related effect increased net income by approximately

$2.0

million during

2019

and

$0.2

million during

2018.

Allowances for excess and obsolete inventory totaled

$5.9

million and

$5.3

million at

December 

31,

2019

and

2018,

respectively.

Inventories are comprised of the following:

Inventories, net		December 31, 201 9				December 31, 2018
Raw materials and in-process		$	16,474			$	21,773
Finished parts			47,317				54,209
Finished products			12,206				11,405
Total net inventories		$	75,997			$	87,387

X

- References

No definition available.

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X

- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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