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Inventories
 12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventories

NOTE 3.  INVENTORIES

 

(Dollars in thousands)

 

2016

 

 

2015

 

Logs

 

$

23,342

 

 

$

9,920

 

Lumber, plywood and veneer

 

 

20,500

 

 

 

16,932

 

Materials and supplies

 

 

8,780

 

 

 

8,310

 

 

 

$

52,622

 

 

$

35,162

 

Valued at lower of cost or net realizable value:

 

 

 

 

 

 

 

 

Last-in, first-out basis

 

$

29,769

 

 

$

16,686

 

Average cost basis

 

 

22,853

 

 

 

18,476

 

Total inventories

 

$

52,622

 

 

$

35,162

 

 

Log inventories increased due to a combination of both favorable logging and hauling conditions in 2016 and unfavorable conditions in 2015.

If the last-in, first-out inventory had been carried at average cost, the values would have been higher by approximately $11.1 million, $10.6 million and $11.0 million at December 31, 2016, 2015 and 2014, respectively.