Note 2. Inventories

3 Months Ended

Sep. 30, 2011

Inventories [Abstract]

Inventory Disclosure

Inventories

Inventory components of the Company were as follows:

(Amounts in Thousands)	September 30, 2011			June 30, 2011
Finished products	$	36,835		$	33,287
Work-in-process	12,297			11,734
Raw materials	103,714			109,337
Total FIFO inventory	$	152,846		$	154,358
LIFO reserve	(13,465		)	(13,261		)
Total inventory	$	139,381		$	141,097

For interim reporting, LIFO inventories are computed based on quantities as of the end of the quarter and interim changes in price levels. Changes in quantities and price levels are reflected in the interim financial statements in the period in which they occur, except in cases where LIFO inventory liquidations are expected to be reinstated by fiscal year end. During the three-month periods ended September 30, 2011 and 2010, LIFO inventory liquidations increased net income by, in thousands, $16 and $438, respectively.