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Inventory

6 Months Ended

Jun. 30, 2012

Inventory

Our inventory, net of allowance for obsolescence of $770,808 at June 30, 2012 and $485,680 at December 31, 2011, consisted of the following amounts:



	June 30, 2012		December 31, 2011
	(in thousands)
Raw materials	$	19,108	$	20,364
Work in process	7,621		6,601
	$	26,729	$	26,965

During the six months ended June 30, 2012 and June 30, 2011, there was zero write off of obsolete inventory against the allowance for obsolescence.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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