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Inventories

12 Months Ended

Dec. 31, 2011

4.	Inventories

The following table displays the components of inventory:

	December 31, 2011		December 31, 2010
Raw materials	$	372,627	$	316,052
Work in progress		177,016		139,579
Finished goods		309,048		248,073
Subtotal		858,691		703,704
Less LIFO reserve		55,345		45,742
Total	$	803,346	$	657,962

At December 31, 2011 and 2010, approximately 28% and 24%, respectively, of the Company's total inventories were accounted for using the LIFO method.

- 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.

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