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INVENTORIES

9 Months Ended

Sep. 28, 2019

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 4 — INVENTORIES

Inventories are valued using the last-in, first-out (LIFO) method. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs existing at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, interim results are subject to the final year-end LIFO inventory valuation.

10

Index

Inventories consist of the following:

	September 28, 2019	December 31, 2018
Inventory at FIFO
Finished products	$16,897	$17,313
Materials and work in process	67,763	62,975
Gross inventories	84,660	80,288
Less: LIFO reserve	(48,113)	(46,341)
Less: excess and obsolescence reserve	(3,566)	(2,527)
Net inventories	$32,981	$31,420

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- References

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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 http://asc.fasb.org/topic&trid=2126998

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