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Inventories

12 Months Ended

Jun. 30, 2012

2. INVENTORIES

Inventories valued on a LIFO basis (steel) would have been approximately $1.7 million and $1.9 million higher at June 30, 2012 and 2011, respectively, if they had been valued on a FIFO basis. At June 30, 2012 and 2011 the total value of LIFO inventory was $2.9 million and $1.5 million, respectively. There was no material liquidation of LIFO inventory in 2012 and 2011. A comparison of inventories is as follows:



(in thousands)	June 30,
	2012		2011
Raw materials	$	10,410	$	9,235
Work in process and finished parts		5,288		3,951
Finished goods		66,991		60,494
Total	$	82,689	$	73,680

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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