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Inventory

3 Months Ended

Mar. 31, 2015

Inventories are stated at the lower of cost or market. Cost is determined using the weighted average cost of raw materials which approximates the first-in, first-out (“FIFO”) method and includes allocations of manufacturing labor and overhead. Provisions are made to reduce potentially excess, obsolete or slow-moving inventories to their net realizable value. Inventories consisted of the following at March 31, 2015 and December 31, 2014 (in thousands):



	2015			2014
Raw materials	$	13,678		$	12,229
Work-in-process	128			111
Finished goods	10,416			7,337
Reserve for excess and obsolete inventory	(1,596		)	(1,354		)
Total inventory	$	22,626		$	18,323

- 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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