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Inventories

12 Months Ended

Dec. 31, 2014

5. Inventories, net



	December 31, 2014			December 31, 2013
Raw materials	$	352,016		$	338,621
Work in progress	147,715			127,611
Finished goods	483,912			367,011
Subtotal	983,643			833,243
Less reserves	(119,906		)	(117,932		)
Total	$	863,737		$	715,311

At December 31, 2014 and 2013, approximately 25% and 30%, 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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