Inventories

3 Months Ended

Sep. 30, 2019

Inventory, Net [Abstract]

Inventories

Inventories

Inventories consisted of the following components as of September 30, 2019 and June 30, 2019:

($ in millions)	September 30, 2019		June 30, 2019
Raw materials and supplies	$	194.3	$	169.8
Work in process	459.2		425.7
Finished and purchased products	184.1		192.2
Total inventory	$	837.6	$	787.7

Inventories are valued at the lower of cost or market. Cost for inventories is principally determined using the last-in, first-out (“LIFO”) inventory costing method. The Company also uses the first-in, first-out (“FIFO”) and average cost methods. As of September 30, 2019 and June 30, 2019, $179.6 million and $172.3 million of inventory, respectively, was accounted for using a method other than the LIFO inventory costing method.