Inventory

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 excess, obsolete or slow-moving inventories to their net realizable value. Inventories consisted of the following at March 31, 2016 and December 31, 2015 (in thousands):



	2016		2015
Raw materials	$	9,903	$	8,748
Work-in-process	74		105
Finished goods	10,237		6,910
Total inventory	$	20,214	$	15,763