4. Inventories

Inventories consist of the following:



	December 31,
	2016		2015

Finished goods and work-in-process	$	44,047	$	40,984
Raw material and supplies	26,824		10,600
	$	70,871	$	51,584

The inventories in the table above do not include truck chassis inventory financed through a floor plan financing agreement as discussed in Note 7. The Company takes title to truck chassis upon receipt of the inventory through their floor plan agreement and performs up-fitting service installations to the truck chassis inventory during the installation period. The floor plan obligation is then assumed by the dealer customer upon delivery. At December 31, 2016, the Company had $3,939 of chassis inventory and related floor plan financing obligation. The Company recognizes revenue associated with up-fitting and service installations net of the truck chassis.

Unlike the floorplan agreement, the Company does not record inventory related the truck chassis acquired through the bailment pool agreement as these truck chassis are held on consignment. Like the revenue recognized on floorplan arrangement, revenue recognized for up-fitting services on chassis acquired through the bailment agreement, are also recognized net of the truck chassis.