Inventories, Net

3 Months Ended

Dec. 27, 2019

11. INVENTORIES, NET

A majority of the Company's inventories are recorded at the lower of cost (primarily last in, first out, or "LIFO") or market. Approximately 72% and 72% of the Company's inventories were valued at the lower of LIFO cost or market at December 27, 2019 and September 30, 2019, respectively. Interim LIFO determinations, including those at December 27, 2019, are based on management's estimates of future inventory levels and costs for the remainder of the current fiscal year.



(in thousands)	December 27, 2019		September 30, 2019
Purchased materials and manufactured parts, net	$	53,141	$	52,742
Work in process, net	24,678		21,424
Finished goods, net	164,871		151,924
Inventories, net	$	242,690	$	226,090

Total inventories would be $2,639 and $3,138 higher than reported as of December 27, 2019 and September 30, 2019, respectively, if the first-in, first-out method was used for all inventories. As of December 27, 2019, and September 30, 2019, the excess and obsolete inventory reserve was $15,140 and $14,295, respectively.