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:


	March 26, 2015		June 26, 2014		March 27, 2014
Raw material and supplies	$	106,864	$	68,196	$	110,160
Work-in-process and finished goods		121,513		114,634		87,907

Total	$	228,377	$	182,830	$	198,067

The previously reported balances of raw material and supplies at June 26, 2014 and March 27, 2014 incorrectly included $21,221 and $12,995, 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 our consolidated financial statements. The impact to prior periods is not material and the Company will similarly correct this disclosure in future filings.