XML 70 R12.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Sep. 30, 2019

Inventories [Abstract]

(4) Inventories

Inventories are valued at the lower of cost (using either the first-in, first-out (“FIFO”) or average cost methods) or net realizable value. The Company evaluates and adjusts as necessary its excess and obsolescence reserve on a quarterly basis. Excess inventories are quantities of items that exceed anticipated sales or usage for a reasonable period. The Company has guidelines for calculating provisions for excess inventories based on the number of months of inventories on-hand compared to anticipated sales or usage. Management uses its judgment to forecast sales or usage and to determine what constitutes a reasonable period. Inventory cost includes material, labor and overhead. Inventories consisted of the following:


		September 30,			December 31,
		2019			2018
Raw materials		$	61,387		$	54,382
Work-in-progress			6,674			4,710
Finished goods			35,536			20,186
Total inventories, net		$	103,597		$	79,278

Inventory valued using the FIFO method was $90,359 and $64,745 at September 30, 2019 and December 31, 2018, respectively. Inventory valued using the average cost method was $13,238 and $14,533 at September 30, 2019 and December 31, 2018, respectively.