Inventory

Inventories are stated at the lower of cost and net realizable value. 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, 2017 and December 31, 2016 (in thousands):



	2017		2016
Raw materials	$	28,047	$	18,002
Finished goods	20,652		16,839
Total inventory	$	48,699	$	34,841