Quarterly report pursuant to Section 13 or 15(d)

Trade Inventory

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Trade Inventory
6 Months Ended
Jun. 30, 2018
Trade Inventory [Abstract]  
Trade Inventory

5.     Trade Inventory



Trade inventory consisted of the following (in thousands):







 

 

 

 



 

 

 

 



 

June 30,

 

December 31,



 

2018

 

2017

Raw materials

$

3,228 

 

3,320 

Paper goods and packaging materials

 

885 

 

865 

Finished goods

 

17,167 

 

19,717 

Total trade inventory

$

21,280 

 

23,902 





Trade inventory is measured at the lower of cost or market. Cost includes all costs of conversions, including materials, direct labor, production overhead, depreciation of equipment and shipping costs. Raw materials are stated at the lower of approximate cost, on a first-in, first-out or average cost basis, and market is determined by reference to replacement cost. Raw materials are not written down unless the goods in which they are incorporated are expected to be sold for less than cost, in which case, they are written down by reference to replacement cost of the raw materials. Finished goods and work in progress are stated at the lower of cost or market determined on a first-in, first-out or average cost basis.  Shipping and handling fees billed to customers are recorded as trade sales, and shipping and handling fees paid by the Company are recorded as cost of goods sold.