Note 2 – Inventories

Inventories are stated at the lower of cost (first in, first out) or market which approximates actual cost. Raw materials and supplies include costs of nut and nut related products. Work-in-process and finished goods include labor and manufacturing overhead costs. Inventories consist of the following:


	December 25, 2014		June 26, 2014		December 26, 2013
Raw material and supplies	$	111,150	$	68,196	$	105,088
Work-in-process and finished goods		110,788		114,634		82,500

Total	$	221,938	$	182,830	$	187,588

The previously reported balances of raw material and supplies at June 26, 2014, March 27, 2014 and December 26, 2013 incorrectly included $21,221, $12,995 and $11,793, respectively, of certain nut meats that should have been classified as work in process and finished goods. The current presentation reflects this correction and there is no impact on the consolidated financial statements. The impact to prior periods is not material and the Company will similarly correct this disclosure in future filings.