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INVENTORIES
3 Months Ended
Mar. 31, 2016
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]
INVENTORIES
 
Inventories consisted of the following (amounts in thousands):
 
March 31,
2016
 
December 31,
2015
Raw material
$
72,172

 
$
85,490

Work-in-process
33,334

 
31,866

Finished goods
162,639

 
158,997

 
268,145

 
276,353

Adjustment to LIFO
(2,972
)
 
(6,562
)
 
$
265,173

 
$
269,791


 
Inventories are valued at lower of cost or market. The majority of inventories are valued under the first-in, first-out (FIFO) method or average cost method. At March 31, 2016, and December 31, 2015, approximately 8% of the Company's inventories were valued under the last-in, first-out (LIFO) method.