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Note 3 - Inventories

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Inventory Disclosure [Text Block]

3.

Inventories

:

I

nventories consisted of the following:

As of December 31,
(in thousands)		2017				2016
Unprocessed		$	225,187			$	203,256
Processed and finished			50,120				51,270
Totals		$	275,307			$	254,526

During

2017,

the Company recorded

$2.7

million of LIFO expense as a result of increased metals pricing during

2017.

The LIFO expense decreased the Company’s inventory balance and increased its cost of materials sold. During

2016,

the Company recorded

$1.5

million of LIFO income as a result of decreased metals pricing during

2016.

The LIFO income increased the Company’s inventory balance and decreased its cost of materials sold.

If the FIFO method had been in use, inventories would have been

$5.3

million and

$8.0

million lower than reported at

December 31, 2017

and

2016,

respectively.

X

- References

No definition available.

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X

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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