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Inventories

6 Months Ended

Jul. 01, 2023

Inventories [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.

Inventories consist of the following:

		July 1, 2023				December 31, 2022
Inventory at FIFO
Finished products		$	28,486			$	23,573
Materials and work in process			108,765				105,721
Gross inventories			137,251				129,294
Less:  LIFO reserve			(62,606	)			(59,489	)
Less:  excess and obsolescence reserve			(5,229	)			(4,812	)
Net inventories		$	69,416			$	64,993

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- References

No definition available.

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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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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