Inventories

Inventories are composed of material, labor and overhead and are stated at the lower of cost or market. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at June 30, 2018 and December 30, 2017 are as follows (in thousands):



	Jun 30, 2018		Dec 30, 2017
Raw materials and parts	$	215,056	$	180,559
Work-in-process	57,092		38,917
Finished goods	221,519		205,163
	$	493,667	$	424,639