The following financial information is available for International Technologies, Inc.:

Consolidated Statements of Ops (USD $)
In Thousands	Dec. 27, 2014	Dec. 28, 2013	Dec. 29, 2012
NET SALES	$1,097,788	$929,810	$719,204
Cost of sales	$839,946	$698,771	$542,700
GROSS PROFIT	$257,842	$231,039	$176,504
Selling and administrative expenses	$251,591	$205,797	$171,420
Other operating expense, net	$2,441	$1,334	$184
Facility consolidation expenses	$14,888	$0	$0
Impairment of assets	$3,059	$0	$0
OPERATING INCOME (LOSS)	($14,137)	$23,909	$4,901
Interest expense	$11,615	$10,141	$8,494
Other (income) expense, net	($416)	$70	($748)
Gain on purchase of businesses	($29,997)	$0	$0
Refinancing expenses	$0	$254	$0
INC (LOSS) FROM CONT OPS BEFORE TAXES	$4,660	$13,443	($2,846)
Income tax provision (benefit)	$2,843	($1,558)	($1,083)
INCOME (LOSS) FROM CONTINUING OPS	$1,817	$15,001	($1,763)
Loss from discontinued operations, net of tax	($1,642)	($718)	($740)
Loss on disposal of disc ops, net of tax	($3,961)	$0	$0
NET INCOME (LOSS)	($3,785)	$14,283	($2,503)
Consolidated Balance Sheets	Dec. 27, 2014	Dec. 28, 2013
In Thousands
CURRENT ASSETS
Cash and cash equivalents	$1,064	$689
Receivables, net of allow. of $1,215 and $381, respectively	$136,415	$118,970
Inventories	$281,359	$251,691
Prepaid expenses	$16,119	$15,201
Deferred income taxes	$34,349	$17,879
TOTAL CURRENT ASSETS	$469,306	$404,430
PROPERTY, PLANT AND EQUIPMENT, NET	$276,720	$201,110
OTHER ASSETS	$66,350	$66,398
TOTAL ASSETS	$812,376	$671,938
CURRENT LIABILITIES	$0	$0
Accounts payable	$59,692	$58,533
Accrued expenses	$79,129	$70,745
Current portion of long-term debt	$24,511	$16,818
TOTAL CURRENT LIABILITIES	$163,331	$146,097
LONG-TERM DEBT	$319,167	$274,749
DEFERRED INCOME TAXES	$25,315	$10,994
OTHER LONG-TERM LIABILITIES	$53,525	$49,016
TOTAL LIABILITIES	$561,338	$480,857
From Notes to Financial Statements
Inventories (USD $)
In Thousands
	Dec. 31, 2014	Dec. 31, 2013
Raw materials	$109,752	$86,033
Work-in-process	$53,935	$45,576
Finished goods	$156,365	$156,554
Supplies and other	$340	$319
Valuation to reduce to LIFO (LIFO reserve)	($39,034)	($36,790)
Inventories	$281,359	$251,691

The dollar amount of inventory International Tech reported on its 2014 balance sheet using the LIFO method is:

a. $320,393

b. $281,359

c. $195,399

d. $242,325

e. None of the above.