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Inventories

3 Months Ended

Mar. 31, 2013

Note 2 – Inventories

The Company's inventories consist primarily of work-in-process inventory, as well as raw materials and finished goods inventory related to the Company's Los Angeles print operation. Work-in-process consists primarily of unbilled labor and overhead costs. Raw materials are stated at the lower of cost or market.

The majority of the Company's inventories are valued on the first-in, first-out (FIFO) basis. The remaining inventories are valued using the last-in, first-out (LIFO) method. The Company periodically evaluates the realizability of inventories and adjusts the carrying value as necessary.

Inventories consist of the following:

	March 31,			December 31,
	2013			2012

Raw materials	$	1,921		$	2,087
Work-in-process		20,033			20,251
Finished goods		318			449
		22,272			22,787
Less: LIFO reserve		(736	)		(666	)

Total	$	21,536		$	22,121

- 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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