Inventories, Net

3 Months Ended

Mar. 30, 2013

At March 30, 2013 and December 29, 2012, the major classes of inventory were as follows:



In thousands	March 30, 2013		December 29, 2012
Raw materials and supplies	$	42,438	$	41,070
Work in process	14,493		14,299
Finished goods	39,961		39,595
Total	$	96,892	$	94,964

Inventories are stated at the lower of cost, determined on the first-in, first-out ("FIFO") method, or fair market value. The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to net realizable value. Reserve balances, primarily related to obsolete and slow-moving inventories, were $3.1 million and $3.3 million at March 30, 2013 and December 29, 2012, respectively.

- 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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