XML 94 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Inventories
12 Months Ended
Dec. 31, 2013
Inventory Disclosure [Abstract]  
Inventories

Note 4 – Inventories

Inventory costs are determined using the last-in, first-out (“LIFO”) method for substantially all U.S. inventories. The current cost of this inventory under the first-in, first-out (“FIFO”) method was $481,967 and $432,906 at December 31, 2012 and 2013, respectively. These FIFO values have been reduced by approximately $172,847 and $161,436 at December 31, 2012 and 2013, respectively, to arrive at the LIFO value reported on the Consolidated Balance Sheets. The remaining inventories have been valued under the FIFO or average cost method. All inventories are stated at the lower of cost or market.