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Inventories

12 Months Ended

Oct. 31, 2012

Inventories

Inventories consist of the following:



	October 31,
	2012		2011
Raw materials	$	17,705	$	14,433
Work-in-process	6,236		5,612
Finished goods	8,513		8,575
Total material	32,454		28,620
Tooling	12,233		5,356
Total inventories	$	44,687	$	33,976

Total cost of inventory is net of reserves to reduce certain inventory from cost to net realizable value. Such reserves aggregated $55 and $566 at October 31, 2012 and 2011, respectively.

The increase in production inventory of approximately $3,834 is the result of increased sales volume along with increased sales with steel ownership.

The increase in tooling inventories of approximately $6,877 is for customer reimbursed tooling related to new program awards that go into production 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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