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Inventories
6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Inventories

C.

Inventories

Inventories are valued at the lower of cost or net realizable value using the FIFO (first-in, first-out) method. The Company reduces the value of its inventories to net realizable value market value when the net realizable value is believed to be less than the cost of the item.  The inventory reserve for obsolescence as of June 30, 2017 and December 31, 2016 was $2,838,000 and $2,773,000, respectively.

Inventories are comprised of the following (in thousands):

 

 

 

June 30,

2017

 

 

December 31,

2016

 

Raw materials

 

$

1,586

 

 

$

1,408

 

Work in process

 

 

1,498

 

 

 

1,306

 

Finished goods

 

 

998

 

 

 

924

 

Total Inventories, net

 

$

4,082

 

 

$

3,638