|
December 31, |
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|
2013 |
2012 |
||
|
Finished goods inventory at average cost: |
|||
|
Energy carbon steel tubular products |
$ 362,449 |
$ 387,609 |
|
|
Valves, fittings, flanges and all other products |
763,119 | 752,630 | |
| 1,125,568 | 1,140,239 | ||
|
Less: Excess of average cost over LIFO cost (LIFO reserve) |
(130,802) | (150,982) | |
|
Less: Other inventory reserves |
(23,199) | (19,029) | |
|
$ 971,567 |
$ 970,228 |
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