XML 34 R9.htm IDEA: XBRL DOCUMENT

INVENTORIES

12 Months Ended

Jun. 30, 2014

B. INVENTORIES

The major classes of inventories at June 30 were as follows (in thousands):

	2014		2013
Finished parts	$	66,418	$	68,594
Work‑in‑process		12,419		11,880
Raw materials		18,742		22,300

	$	97,579	$	102,774

Inventories stated on a LIFO basis represent approximately 28% and 30% of total inventories at June 30, 2014 and 2013, respectively. The approximate current cost of the LIFO inventories exceeded the LIFO cost by $27,180,000 and $25,101,000 at June 30, 2014 and 2013, respectively. The Company had reserves for inventory obsolescence of $7,591,000 and $7,122,000 at June 30, 2014 and 2013, respectively.

- 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.

+ References+ Details