December 31, |
|||
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 |