Inventories

3 Months Ended

Mar. 31, 2012

5. Inventories

Inventories are valued at the lower of cost or market. Inventories at March 31, 2012 and December 31, 2011 consisted of the following:

	March 31,			December 31,
	2012			2011
Inventories carried at LIFO:
Finished goods	$	35,125		$	32,648
Raw materials, production parts and work-in-process		17,588			16,611
LIFO reserve		(27,926	)		(27,926	)
Total LIFO inventories		24,787			21,333

Inventories carried at FIFO:
Finished goods		28,617			31,912
Raw materials, production parts and work-in-process		14,724			12,667
Total FIFO inventories		43,341			44,579
Total inventories	$	68,128		$	65,912

The LIFO reserve approximates the difference between LIFO carrying cost and FIFO.

- 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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