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Note 4 - Inventories

3 Months Ended

Mar. 31, 2020

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

$63.2

million and

$62.5

million at

March 31, 2020

and

December 

31,

2019,

respectively. Allowances for excess and obsolete inventory totaled

$5.8

million and

$5.9

million at

March 31, 2020

and

December 

31,

2019,

respectively. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimate of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation.

Inventories are comprised of the following:

Inventories, net:		March 31 , 2020				December 31, 2019
Raw materials and in-process		$	18,713			$	16,474
Finished parts			47,255				47,317
Finished products			11,814				12,206
Total net inventories		$	77,782			$	75,997

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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