jquery currency format

currency.html

<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.0.0/jquery.min.js"></script>
<input class="number">

<script type="text/javascript">
    function setCurrencyFormat(elem){
	elem.on('focusin', function(){
    //console.log("Saving value " + $(this).val());
    $(this).data('val', $(this).val());
  });
  elem.on('focusout', function(){
      //console.log("Saving value " + $(this).val());
      val = $(this).val();
      if(val.indexOf(".") < 0){
        $(this).val(val+".00");
      }else{
        vals = val.split(".");
        if(vals[1].length == 1){
          $(this).val(val+"0");
        }else if(vals[1].length <= 0){
          $(this).val(val+"00");
        }
      }

  });
  elem.keydown(function(event){
    save_val = $(event.target).val();

    if(save_val.indexOf(".") > 0){
      save_vals = save_val.split('.');
      if(save_vals[0].length <= 10 && save_vals[1].length <= 2){
        //console.log("Saving value " + $(event.target).val());
        $(this).data('val', $(event.target).val()); 	
      } 
    }else{
      save_val = save_val.replace(/\D/g, "");
      if(save_val.length <= 8 ){
        //console.log("Saving value " + $(event.target).val());
        $(this).data('val', save_val.replace(/\B(?=(\d{3})+(?!\d))/g, ",")); 	
      }
    }
  });
  elem.keyup(function(event) {
    after_decimal = false;
    current_caret_pos = getCaretPos(event.target);
    if(current_caret_pos > $(event.target).val().indexOf(".")){
      after_decimal = true;
    }
    if(isSelectionRange(event.target)){
      return;
    }
    // skip for arrow keys
    if(event.which >= 37 && event.which <= 40) return;
    // format number
    $(this).val(function(index, value) {
        save_val = $(event.target).val();
        var prev = $(event.target).data('val');
        val = value.split(".");
        if(val.length >= 2){
          last_dot_part = val.slice(val.length-1,val.length);
          last_dot_part = last_dot_part.join('').replace(/\D/g, "");
          if(last_dot_part.length > 2){
            return prev;
          }

          first_part = val.slice(0,val.length-1);
          first_part = first_part.join('').replace(/\D/g, "");
         // console.log(first_part.length);
          if(first_part.length > 8){
            return prev;
          }
          first_part = first_part.replace(/\B(?=(\d{3})+(?!\d))/g, ",");
          return first_part + "."+last_dot_part;
        }else{
          val = val[0];
          val = val.replace(/\D/g, "");
          if(val.length > 8){
            return prev.replace(/\D/g, "").replace(/\B(?=(\d{3})+(?!\d))/g, ",");
          }
          return val.replace(/\B(?=(\d{3})+(?!\d))/g, ",");
        }
      });
      pos_before_decimal = $(event.target).val();
      decimal_pos = pos_before_decimal.indexOf(".");
      if(decimal_pos >= 0 && !after_decimal){
        setCaretPosition(event.target, decimal_pos)
      }
  });

  function isSelectionRange(input){
    is_range = false;
    // Internet Explorer Caret Position (TextArea)
      if (document.selection && document.selection.createRange) {
          var range = document.selection.createRange();
          var bookmark = range.getBookmark();
          var caret_pos = bookmark.charCodeAt(2) - 2;
          if(range > 0){
            is_range = true;
          }
      } else {
          // Firefox Caret Position (TextArea)
          if (input.setSelectionRange){
              var caret_pos = input.selectionStart;
              var caret_end_pos = input.selectionEnd;
              if(caret_pos < caret_end_pos){
                is_range = true;
              }
           }
      }
    return is_range;
  }

  function getCaretPos(input) {
      // Internet Explorer Caret Position (TextArea)
      if (document.selection && document.selection.createRange) {
          var range = document.selection.createRange();
          var bookmark = range.getBookmark();
          var caret_pos = bookmark.charCodeAt(2) - 2;
      } else {
          // Firefox Caret Position (TextArea)
          if (input.setSelectionRange)
              var caret_pos = input.selectionStart;
      }

      return caret_pos;
  }


  function setCaretPosition(elem, caretPos) {
      if(elem != null) {
          if(elem.createTextRange) {
              var range = elem.createTextRange();
              range.move('character', caretPos);
              range.select();
          }
          else {
              if(elem.selectionStart) {
                  elem.focus();
                  elem.setSelectionRange(caretPos, caretPos);
              }
              else
                  elem.focus();
          }
      }
  }
}

setCurrencyFormat($('input.number'));
</script>