Our inventories are valued at the lower of cost or market and computed on a first-in, first-out (FIFO) basis. Components of inventories, net of reserves, are as follows:

	December 31,
	2016				2015
Parts and raw materials	$	43,278			$	40,578
Work in process	5,292				5,643
Finished goods	7,200				6,352
	$	55,770			$	52,573