Inventories

12 Months Ended

Feb. 28, 2025

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

The following table summarizes the components of inventories at the different stages of production as of February 28, 2025 and February 29, 2024 (in thousands):

	2025		2024
Raw material	$	20,862	$	21,764
Work-in-process		4,919		5,621
Finished goods		13,016		12,652
	$	38,797	$	40,037

The allowance for aged obsolete inventory at fiscal years ended 2025 and 2024 were $1.8 million and $1.7 million, respectively. The aged inventory allowance is recorded primarily to account for the decrease in market value of general stock inventory that is not manufactured to specific customer order. Inventory write offs were $0.1 million in each of the fiscal years ended 2025, 2024, and 2023.

The excess of current costs at FIFO over LIFO stated values was approximately $5.6 million and $5.9 million as of fiscal years ended 2025 and 2024, respectively. During both fiscal year 2025 and 2024, as inventory quantities were reduced, this resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years compared with the cost of fiscal years 2024 and 2023, as applicable. The effect decreased cost of sales by approximately $0.7 million, $0.6 million and $0.3 million for fiscal years 2025, 2024 and 2023, respectively. Cost includes materials, labor and overhead related to the purchase and production of inventories.