Inventories

6 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventories

5.    Inventories

Inventories consisted of the following (in thousands):

	September 30, 2022		March 31, 2022
At cost - FIFO basis:
Raw materials	$	148,908	$	129,015
Work-in-process	28,422		28,093
Finished goods	43,369		36,661
Total at cost FIFO basis	220,699		193,769
LIFO cost less than FIFO cost	(27,910)		(21,630)
Net inventories	$	192,789	$	172,139

An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must necessarily be based on management's estimates of expected year-end inventory levels and costs. Because these are subject to many factors beyond management's control, estimated interim results are subject to change in the final year-end LIFO inventory valuation.