Note 2—Inventories

Inventories consisted of the following at April 30:


$ in thousands	2018		2017
Finished goods	$	4,751	$	3,179
Work-in-process		2,278		1,950
Materials and components		10,633		9,806

Total inventories	$	17,662	$	14,935

At April 30, 2018 and 2017, the Company’s international subsidiaries’ inventories were $1,908,000 and $2,205,000, respectively, measured using the first-in, first-out (“FIFO”) method. If all of the Company’s inventories had been determined using the FIFO method at April 30, 2018 and 2017, reported inventories would have been $887,000 and $748,000 greater, respectively. During fiscal year 2018, the LIFO index was higher than 100% due to higher prices for certain raw materials. This increase resulted in the addition of LIFO inventory quantities carried at lower costs prevailing in prior years as compared to the cost of purchases in fiscal year 2017, the effect of which increased the costs of product sales by $139,000. During fiscal year 2017, the LIFO index was higher than 100% due to higher prices for certain raw materials. This increase resulted in the addition of LIFO inventory quantities carried at lower costs prevailing in prior years as compared to the cost of purchases in fiscal year 2016, the effect of which increased the costs of product sales by $14,000.