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Inventories

9 Months Ended

Sep. 30, 2013

C. Inventories

The Company reduces the value of its inventories to market value when the market value is believed to be less than the cost of the item. The inventory reserve for obsolescence as of September 30, 2013 and December 31, 2012 was $2,554,000 and $2,318,000, respectively.

	September 30, 2013		December 31, 2012
	(in thousands)
Raw materials	$	1,906	$	2,468
Work in process		1,548		1,604
Finished goods		1,371		1,277
Total Inventories, net	$	4,825	$	5,349

- 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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