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Inventories

9 Months Ended

Jul. 31, 2012

Inventories

Inventories consist of the following:



	July 31, 2012		October 31, 2011
Raw materials	$	16,273	$	14,433
Work-in-process	6,866		5,612
Finished goods	10,215		8,575
Total material	33,354		28,620
Tooling	11,303		5,356
Total inventory	$	44,657	$	33,976

Total cost of inventory is net of reserves to reduce certain inventory from cost to net realizable value. Such reserves aggregated $874 and $566 at July 31, 2012 and October 31, 2011, respectively.

The increase in production inventory of approximately $4,700 is the result of increased sales volumes along with increased sales with steel ownership.

The increase in tooling inventories of approximately $5,900 is for customer reimbursed production tooling related to new program awards that go into production in the fourth quarter of fiscal 2012 and throughout fiscal 2013.

- 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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