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INVENTORIES
6 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
 
Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Significant cost elements included in inventory are material, labor, freight, subcontract costs, and manufacturing overhead. As necessary, we adjust inventory to its net realizable value by recording provisions for excess, slow moving and obsolete inventory. We regularly review inventory quantities on hand and values, and compare them to estimates of future product demand, market conditions, production requirements and technological developments.

Inventories consisted of the following:
June 30, 2020December 31, 2019
Raw materials$26,180  $26,173  
Work-in-process16,170  12,194  
Finished goods17,153  15,045  
Supplies257  316  
 $59,760  $53,728