Graham Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Inventories

Inventories

12 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

Inventories

Note 2 — Inventories:

Major classifications of inventories are as follows:


	March 31,
	2015		2014
Raw materials and supplies	$	2,763	$	3,185
Work in process		13,685		17,767
Finished products		689		646

		17,137		21,598
Less — progress payments		3,143		5,080

	$	13,994	$	16,518

- 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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