Inventories

9 Months Ended

Mar. 31, 2020

Inventory, Net [Abstract]

Inventories

Inventories

Inventories consisted of the following components as of March 31, 2020 and June 30, 2019:

($ in millions)	March 31, 2020		June 30, 2019
Raw materials and supplies	$	238.6	$	169.8
Work in process	436.1		425.7
Finished and purchased products	194.3		192.2
Total inventories	$	869.0	$	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 March 31, 2020 and June 30, 2019, $165.9 million and $173.2 million of inventory, respectively, was accounted for using a method other than the LIFO inventory costing method.