Inventories, Net

6 Months Ended

Mar. 27, 2020

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 75% and 72% of the Company's inventories were valued at the lower of LIFO cost or market at March 27, 2020 and September 30, 2019, respectively. Interim LIFO determinations, including those at March 27, 2020, are based on management's estimates of future inventory levels and costs for the remainder of the current fiscal year.



(in thousands)	March 27, 2020		September 30, 2019
Purchased materials and manufactured parts, net	$	54,173	$	52,742
Work in process, net	22,461		21,424
Finished goods, net	169,601		151,924
Inventories, net	$	246,235	$	226,090

Total inventories would be $1,938 and $3,138 higher than reported as of March 27, 2020 and September 30, 2019, respectively, if the first-in, first-out method was used for all inventories. As of March 27, 2020, and September 30, 2019, the excess and obsolete inventory reserve was $12,946 and $14,295, respectively.