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Inventories, Net | 9 Months Ended
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Sep. 30, 2022
Inventory Disclosure [Abstract] |
Inventories, Net | NOTE C – INVENTORIES, NET
|  | September 30, 2022 |  |  | December 31, 2021 |
Raw materials |  | $ | 96,714 |  |  | $ | 76,636 |
Work-in-process |  |  | 12,900 |  |  |  | 10,117 |
Finished goods |  |  | 39,526 |  |  |  | 37,216 |
Inventories, gross |  |  | 149,140 |  |  |  | 123,969 |
Excess of current cost over LIFO cost |  |  | (14,558 | ) |  |  | (9,462 | )
Inventories, net |  | $ | 134,582 |  |  | $ | 114,507 |
Cost of inventories for certain material is determined using the last-in-first-out (LIFO) method and totaled approximately $54.8 million at September 30, 2022 and $44.0 million at December 31, 2021. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three and nine months ended September 30, 2022, the net change in LIFO inventories resulted in expense of $1.7 million and $5.1 million, respectively, to Costs of products sold. During the three and nine months ended September 30, 2021, the net change in LIFO inventories resulted in expense of $1.8 million and $3.6 million, respectively, to Costs of products sold.

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- 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 https://asc.fasb.org/topic&trid=2126998 + Details
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