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Inventories

6 Months Ended

Jun. 30, 2012

INVENTORIES

Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out (LIFO) method, which generally matches current costs of inventory sold with current revenues, for substantially all inventories. Inventories are summarized as follows:



	June 30, 2012			December 31, 2011
Raw materials	$	24,252		$	19,624
Work-in-process	14,295			13,116
Finished goods	49,236			45,840
Supplies, repair parts and other	453			351
LIFO reserve	(15,296		)	(14,992		)
Total inventories	$	72,940		$	63,939

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details