NOTE 8 – INVENTORIES

Inventories consisted of the following at June 30:


(in thousands)	2011			2010

Finished goods	$	303,716		$	227,096
Work in process and powder blends	202,940				134,732
Raw materials and supplies		109,683			62,673

Inventories at current cost		616,339			424,501
Less: LIFO valuation		(96,366	)		(60,233	)

Total inventories	$	519,973		$	364,268

We used the LIFO method of valuing our inventories for approximately 50 percent and 51 percent of total inventories at June 30, 2011 and 2010, respectively.