Inventory

9 Months Ended

Sep. 30, 2012

Components of net inventories at September 30, 2012 and December 31, 2011 were as follows:

	September 30,			December 31,
	2012			2011
Work-in-process	$	6,753,554		$	6,160,151
Raw materials (principally paper)		9,806,789			9,460,478
		16,560,343			15,620,629
Excess of current costs over LIFO inventory value		(277,142	)		(277,142	)
Net inventory	$	16,283,201		$	15,343,487

- 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.

+ References+ Details

SHERIDAN GROUP INC 10-Q