7. INVENTORIES

Inventories of the Company at June 30, 2011 and December 31, 2010 are summarized in the following table:

		June 30,			December 31,
		2011			2010
		In thousands
Finished goods		$	66,573		$	71,634
Work-in-process			9,144			5,346
Raw materials			28,710			21,387

Total inventories at current costs			104,427			98,367
Less:	LIFO reserve		(8,696	)		(8,000	)
		$	95,731		$	90,367

In connection with the Company's ongoing exit from its former Grand Island, NE concrete tie facility, for the six month period ended June 30, 2011, the Company recorded charges within cost of goods sold of $780,000 related to inventory it does not expect to sell prior to departing Grand Island, NE. For the six month period ended June 30, 2010, the Company recorded charges of $340,000.

Inventories of the Company are generally valued at the lower of last-in, first-out (LIFO) cost or market. Other inventories of the Company are valued at average cost or market, whichever is lower. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management's estimates of expected year-end levels and costs.