Inventories

Inventories consist of the following at:



	April 30, 2020		July 31, 2019
Raw materials and components	$	60,203,000	53,959,000
Work-in-process and finished goods	38,070,000		40,576,000
Total inventories	98,273,000		94,535,000
Less reserve for excess and obsolete inventories	18,850,000		19,696,000
Inventories, net	$	79,423,000	74,839,000

As of April 30, 2020 and July 31, 2019, the amount of inventory directly related to long-term contracts (including contracts-in-progress) was $6,410,000 and $4,053,000, respectively, and the amount of inventory related to contracts from third-party commercial customers who outsource their manufacturing to us was $1,606,000 and $1,513,000, respectively.